Shares in Verici Dx PLC (AIM:VRCI), a company developing tests to understand how patients respond to organ transplants, fell 13.5% to 8.65p after it raised £5.5 million in a discounted placing.
The AIM-listed firm, which agreed to issue new ordinary shares at 9p apiece, a discount of 11.1% to its last closing mid-price, said it also plans to raise further cash via a retail offer on the BookBuild platform, which it will announce shortly.
With these funds, Verici plans to enhance its bioinformatics capabilities, accelerate market development, and further validate its product initiatives, including the post-transplant test Tutivia.
It said the proceeds from the placing, plus the £2.08 million cash it had at the end of December, further cashflows from a November licence deal and other expected revenue in 2024, are anticipated to extend its cash runway into 2026.