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Pharmaxis enters trading halt ahead of share placement

The company plans to raise funds by way of a share placement.

capital raising concept with documents and reading glasses
Further details regarding the capital raising are expected by Tuesday

Pharmaxis Ltd (ASX:PXS) has been granted a trading halt by the ASX pending the release of information regarding a share placement.

The company’s shares will remain halted until the earlier of, the release of relevant information, or, the commencement of trading next Tuesday.

READ: Pharmaxis powering ahead with phase I LOXL2 studies

Pharmaxis is an established pharmaceutical research company working on new therapies to treat inflammatory and fibrotic diseases.

This includes liver disease NASH, pulmonary fibrosis, kidney and liver fibrosis, inflammatory bowel diseases and cancer.

The company finished the June quarter with just over $31 million in cash.

Quick facts: Pharmaxis Ltd

Price: 0.076 AUD

ASX:PXS
Market: ASX
Market Cap: $30.04 m
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