Island Pharmaceuticals Raises AU$2.7 Million Via Exercise of Options

MT Newswires Live

03-19

Island Pharmaceuticals (ASX:ILA) raised a total of AU$2.7 million via the exercise of 45.3 million listed options, which expired March 14, according to a Wednesday Australian bourse filing.

The options were issued to shareholders who participated in the firm's fully underwritten rights issue in March 2024.

The additional funds raised will be used to support the clinical development activities for ISLA-101, its candidate for the prevention and treatment of dengue fever.

Its shares rose over 2% on Wednesday's close.

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