Brief: Redwood Pharma Updates Regarding Financial Situation

Redwood Pharma AB

20/06/2019 10:50

June 20 (Reuters) - Redwood Pharma AB  REDWPH.TE :
    * SAID ON WEDNESDAY IT HAS RAISED SUFFICIENT CAPITAL THROUGH
THE
NEW RIGHTS ISSUE AND THE CONVERTIBLE DEBT FACILITY TO COMPLETE
THE RP101 PHASE II TRIAL
    * COSTS FOR THE TRIAL ARE IN LINE WITH ITS BUDGET, WITHOUT
SIGNIFICANT DEVIATION OR INCREASES
    * BOARD OF DIRECTORS IS OF THE OPINION THAT THE FACILITY IS
WELL-SUITED FOR THE COMPANY'S NEEDS
    * BOARD HAS DECIDED TO EVALUATE THE POSSIBILITY OF ACTIVELY
ELIMINATING OR REDUCING THE CONVERTIBLE DEBT FACILITY DURING THE
FALL OF 2019
    * HAS DECIDED TO ACQUIRE A SEK 4.5 MLN BRIDGE LOAN
    * FOR THE TIME BEING, FINANCIALLY UNCHANGED CONDITIONS
PREVAIL 

    
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