PharmAust Raises $10 Million via Institutional Placement, Announces Share Purchase Plan

PharmAust Limited (ASX: PAA) has secured commitments for AU$10 million through an institutional placement at $0.50 per share. The funds will be used to finalize preparations for the pivotal adaptive Phase 2/3 STRIKE study in patients with Motor Neurone Disease (MND) and amyotrophic lateral sclerosis(ALS), as well as GMP manufacturing, preclinical models for other neurodegenerative diseases, regulatory filings, working capital, and offer costs. Directors and management will participate in the placement for approximately AU$1 million, subject to shareholder approval where applicable. A share purchase plan (SPP) will also be offered to eligible shareholders at the same offer price.

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