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Rakovina Therapeutics Launches C$1.5 Million Private Placement

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Rakovina Therapeutics (RKV.V) after the close on Wednesday said it launched a non-brokered private placement to raise up to C$1.5 million.

The offering consists of up to 15-million units priced at C$0.10 each, with each unit made up of a share and one half of a two-year warrant to buy a share for C$0.20.

Rakovina said it will use the proceeds to advance its cancer drug development pipeline, including its KT-5000AI and KT-3000 programs, continue artificial intelligence-driven drug discovery initiatives, and for working capital purposes.

The company's shares closed down C$0.015, or 12%, to C$0.11 on the TSX Venture Exchange.

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