UK's DeepVerge says fundraise on track; shares rise
25/10/2022 10:42
** Shares of pharmaceutical company DeepVerge DVRG.L rise
as much as 27.1% to 2.70p
** DVRG on track to log best day of gains in more than a
year, if gains hold
** Co says fundraising process has continued to progress
despite challenging market conditions
** DVRG had plunged nearly 51% on Oct. 12 after co flagged
uncertainty in raising sufficient funds
** Co adds that Gerard Brandon will step down as chief
executive officer of co
** Nigel Burton has been appointed interim CEO while co
searches for Brandon's replacement
** Up to last close, stock down ~91% so far this year
(Reporting by Prerna Bedi in Bengaluru)
((Prerna.Bedi@thomsonreuters.com;))