Hemogenyx Pharmaceuticals Plc (LSE:HEMO) has raised £2.5m through a direct subscription by a group of private investors, issuing 313,333 new ordinary shares at £7.50 per share alongside three-year warrants exercisable at £9. Proceeds will be used primarily to continue and escalate dosing in the ongoing Phase I clinical trial of HG-CT-1, the company’s CAR-T therapy for adults with relapsed or refractory acute myeloid leukaemia, as well as to initiate an FDA-cleared Phase I study in paediatric patients aged 12 to 18.
As part of efforts to manage cash burn, Hemogenyx has outsourced production of HG-CT-1 to specialist manufacturer Made Scientific and is completing the associated technology transfer to support supply for both adult and paediatric trial cohorts. At the same time, the company continues to advance elements of its CDX and CBR pipelines where funding allows. Following admission of the new shares to the London Stock Exchange’s Main Market, Hemogenyx’s enlarged issued share capital will comprise 6,354,588 ordinary shares, extending its operational runway as it executes on its clinical development strategy.
The investment outlook remains constrained by the group’s early-stage financial profile, characterised by a lack of revenue, ongoing losses and continued cash consumption, alongside higher balance-sheet risk from dilution and leverage. This is partially offset by positive recent share price momentum, although technical indicators suggest near-term overheating, and valuation support is limited in the absence of earnings or dividend yield.
More about Hemogenyx Pharmaceuticals Plc
Hemogenyx Pharmaceuticals Plc is a London-headquartered, clinical-stage biopharmaceutical company focused on developing novel treatments for blood and autoimmune diseases. Listed on the LSE, the group operates primarily through subsidiaries in New York and is advancing a portfolio of complementary therapeutic candidates and platform technologies aimed at addressing significant unmet medical needs.
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