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Theralase raises C$17.3M via public offering to fund study of cancer treatment

Theralase Technologies Inc. closed a C$17.3 million public offering of common shares and warrants.

The Toronto-based pharmaceutical company sold 57,500,000 units at 30 Canadian cents apiece. Each unit is made up of a common share and a warrant to buy another common stock at 35 Canadian cents each. The warrants will expire Aug. 22, 2024.

The funds will be used to advance studies of the company's treatment for bladder cancer which has shown promise, among other things.

Mackie Research Capital Corp. was the lead agent and sole book runner for the offering.