Herantis Pharma - Directed share offering
Herantis Pharma announced that it has raised c €6.8m in gross proceeds through the issuance of new shares in a directed share offering. This further strengthens its balance sheet, extending the current cash runway into 2022 and beyond key inflection points for priority assets CDNF in Parkinson’s disease (Phase I/II extension study data expected in Q320) and Lymfactin in breast cancer-associated lymphedema (Phase II top-line data expected in Q121). We increase our valuation of Herantis to €93.6m or €12.4/share, reflecting the additional funds raised through the share offering, while maintaining all other assumptions and forecasts.Herantis Pharma Oyj. Herantis Pharma Oyj is a Finland-based pharmaceutical company. It is engaged in the development of treatments for unmet clinical needs, such as dry eye syndrome, Parkinson's disease and secondary lymphedema, among others. The Company's product development portfolio includes: Cis-UCA eye drops for dry eye, CDNF for Parkinson's disease, Lymfaticin aimed at secondary lymphedema, Cis-UCA emulsion cream for atopis dermatitis, and CDNF targeting Amyotrophic Lateral Sclerosis.
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