Argent Bio Pharma Raises US$4.5 Million to Support Drug Development.

Argent BioPharma (ASX: RGT) has successfully raised US$4.5 million by placing 11,250,000 shares at US$0.40 each. Investors will also receive one warrant for every two shares subscribed, exercisable at US$0.55 with a three-year expiry. The placement will be conducted in two tranches: Tranche 1 involves 5,000,000 shares and 2,500,000 warrants issued immediately, while Tranche 2 includes 6,250,000 shares and 3,125,000 warrants, subject to shareholder approval.

Proceeds will fund the development of CannEpil, a key drug candidate, and support strategic reviews aimed at long-term operational sustainability. This capital raise follows Argent’s delisting from the LSE and aligns with its plans for a U.S. national listing. The share price reflects a 370% premium to the 15-day VWAP of AU$0.17.

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