Noxopharm Ltd (ASX: NOX), a clinical-stage Australian drug development company, has secured an increase to its existing funding agreement with two New York institutional investors- Lind Global Macro Fund, LP and CST Investment Fund.
- The agreement comprises of an increase of $2.4 million (face value) secured convertible security with a lock-up period until 30 March 2020;
- This capital will be used to fund a small study in healthy volunteers required by the FDA.
At AEST 1:16PM, the stock was trading at $0.360 per share, down by 2.7%.
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