Tiziana Life Sciences Closes $8.8 Million Direct Offering of 7.04 Million Shares
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Newsfilter
- Successful Financing: Tiziana Life Sciences has closed a direct offering of 7.04 million ordinary shares at $1.25 per share, raising a total of $8.8 million to support its upcoming clinical trials.
- Executive Purchases: CEO Ivor Elrifi purchased 2.4 million shares in this offering, increasing his total holdings to 2,757,848 shares, reflecting strong confidence in the company's future prospects.
- Warrant Incentives: Each subscriber will receive a warrant to purchase new ordinary shares at $1.50 until July 16, 2026, potentially generating an additional $10.56 million in gross proceeds for the company.
- Advancing Clinical Trials: The proceeds from this offering will fund Tiziana's Phase 2 trials for na-SPMS and MSA, which are expected to yield significant clinical data, enhancing the market potential of its biopharmaceutical products.
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About TLSA
Tiziana Life Sciences Ltd. is a United Kingdom-based clinical-stage biotechnology company that specializes in developing transformative therapies for neurodegenerative and neuroinflammatory diseases. The Company’s clinical pipeline includes drug assets for secondary progressive multiple sclerosis, Alzheimer’s, and ALS. Its lead immunotherapeutic candidate, Foralumab (TZLS-401), is being developed for Non-Active Secondary Progressive Multiple Sclerosis, Alzheimer’s and other CNS indications. Its Anti-IL-6R mAb (TZLS-501), a fully human mAb, binds to both membrane-bound and soluble forms of IL-6R, an inflammatory cytokine driving chronic inflammation associated with autoimmune and cancer, reducing circulating levels of the IL-6 cytokine. Its oncology product candidate, Milciclib, is a combination therapy for the treatment of refractory solid tumors (being cancers which are non-responsive or become resistant to treatment), especially non-small cell lung cancer (NSCLC).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
