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Raleigh drugmaker pursuing Covid treatment raising $15M to fund acquisitions

·3 min read
Raleigh drugmaker pursuing Covid treatment raising $15M to fund acquisitions
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Additionally, the company agreed to issue unregistered private warrants to the investor to purchase up to more than 13 million shares at $1.48 a share in a concurrent private placement, according to a filing with the U.S. Securities and Exchange Commission. RedHill's stock fell more than 30 percent Monday after the company disclosed the offering prior to markets opening. The offering follows the company signing a licensing deal with the South Korean corporation Kubo Co. Ltd for the exclusive rights to commercialize RedHill's investigational Covid-19 treatment called opaganib.