The company also announced a non-brokered private placement financing of units priced at $0.06 per unit, which due to high investor demand, was increased to $2.5 million. Executive Chairman Jeffrey Bacha expressed pride in the team's progress and optimism for the future, stating that the additional funds will play a critical role in unlocking transformative opportunities in 2025 as they continue their mission to develop life-changing treatments for cancer patients.
Key takeaways:
- Rakovina Therapeutics Inc. announced the financial results for the third quarter ending September 30, 2024 and provides an update to corporate activities.
- The company has made significant progress in 2024, integrating artificial intelligence with their laboratory infrastructure at the University of British Columbia to advance their innovative cancer therapy platform.
- Rakovina Therapeutics has broadened its capabilities in AI through a collaboration with Variational AI, and has received initial results from the proprietary Deep Docking AI platform.
- The company announced a non-brokered private placement financing of units priced at $0.06 per unit for gross proceeds to the Company of $1.25 Million, which was later increased to $2.5 Million due to high investor demand.