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e-therapeutics reported interim results and business updates for H1 2024. The company continues advancing its GalOmic pipeline, with ETX-312 progressing through IND-enabling studies for MASH treatment, targeting submission in 2025. The company strengthened its leadership team and infrastructure, partnering with AWS to enhance AI capabilities. Financial highlights include a cash position of £41.0 million as of July 31, 2024, following a £28.9 million fundraise. Operating loss increased to £7.5 million, with R&D expenses at £5.6 million and G&A costs at £2.0 million. The company maintains 39 employees.
e-therapeutics plc (OTC-QX: ETXPF) announced a £13.5 million fundraise through a subscription for ordinary shares at 20p each, managed by M&G Investment Management. This subscription, representing 13.12% of existing capital, will facilitate growth initiatives including expanding their RNAi drug pipeline and developing computational tools. A premium of 12% over the previous closing price was achieved. The issuance is subject to shares being admitted by October 6, 2022. The CEO highlighted the potential of RNAi-based therapies in drug discovery.
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