trending Market Intelligence /marketintelligence/en/news-insights/trending/u8oUdMkkunSpcrahyp6mBg2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Can-Fite to raise $6M from institutional investors in registered direct offering

Video

Climate Credit Analytics: Linking climate scenarios to financial impacts

Blog

Global M&A Infographic Q1 2021

Blog

Q1 2021 Global Capital Markets Activity: SPAC IPOs, Issuance in Consumer Discretionary Sector Surge

Blog

COVID-19 Impact & Recovery: Private Equity


Can-Fite to raise $6M from institutional investors in registered direct offering

Can-Fite BioPharma Ltd. agreed to sell 1.5 million American depositary shares to certain institutional investors in a registered direct offering to raise $6 million in gross proceeds.

The Israel based biotechnology company will sell an ADS plus a warrant to purchase one additional ADS for $4 each. The warrants will expire after five years and have an exercise price of $4 per ADS.

Can-Fite said in March that its potential liver cancer drug Namodenoson could not improve survival compared to placebo in a mid-stage study. However, patients who had a severe form of the disease and did not respond to prior treatments survived longer with the drug in comparison to those taking placebo.

Namodenoson has been granted the fast-track designation by the U.S. Food and Drug Administration, which expedites the review process for drugs that address a condition with a high unmet need.

Can-Fite expects to close the offering May 22, subject to closing conditions.

H.C. Wainwright & Co. is the exclusive placement agent for the offering.