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Rakovina Therapeutics Closes Final Tranche of Private Placement, Raises Total of C$1.99 Million

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Rakovina Therapeutics (RKV.V) said Tuesday it closed the second and final tranche of its previously announced non-brokered private placement, raising gross proceeds of C$597,000.

The company issued 5.97 million units at C$0.10 per unit in the second tranche. Including the first tranche, which closed Aug. 12, Rakovina issued a total of 19.91 million units for aggregate gross proceeds of C$1.99 million.

Proceeds will be used to advance Rakovina's pipeline, with a primary focus on in vivo ADME and efficacy testing for the kt-5000AI dual ATR/mTOR inhibitor program and continued AI-driven lead optimization, Rakovina said.

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