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TransThera Sciences to Raise HK$282 Million via Share Placement

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TransThera Sciences (Nanjing) (HKG:2617) plans to raise about HK$282.2 million in net proceeds through a share placement, according to a Wednesday Hong Kong bourse filing.

The clinical-stage biopharmaceutical firm agreed to place 5.1 million shares at HK$57.03 each to at least six independent investors.

The placing price represents a discount of about 18% to the last closing price and about 19.2% to the five-day average price, the filing said.

The placing shares represent about 1.3% of the company's existing issued share capital.

Net proceeds will be used mainly for research and development and commercialization of its core product, Tinengotinib, as well as working capital.

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