Mithra - EUR 20m private placement
Mithra announced the launch of a EUR 20m private placement. 10m new shares will be issued at 17% discount to yesterday's closing price. Investors will receive options with a 18-months term and a 5 years term to subscribe for an additional 20m new shares at a price of EUR 2.25, potentially bringing the total proceeds to EUR 65m. We make use of this opportunity to announce that, following reallocation of coverage, we terminate our coverage on Mithra.Mithra Pharmaceuticals SA is a Belgium-based company active in the pharmaceutical industry. The Company is dedicated to provide products and services for the fertility, contraception and menopause of women. It has a number of patent families regarding Estetrol (E4), a natural estrogen produced by the human foetus, which enables the investigation of fertility and contraception products. Mithra is focused on the development of two late-stage E4-based products: Estelle, a 5th generation oral contraceptive, and Donesta, a hormone therapy for Vasomotor Symptoms in menopause. Mithra develops a contraceptive vaginal ring called Myring and Zoreline, a biodegradable subcutaneous implant for hormone dependant cancer.
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