The Board of Active Biotech AB proposes that the Annual General Meeting resolve to make a guaranteed rights issue of approximately SEK 256 M
Active Biotech has five projects in clinical phase, of which laquinimod and RhuDex(TM) are managed and financed by partners. The clinical projects that are managed and financed on a proprietary basis are TASQ, 57-57 and ANYARA. The potential value of the projects increases in pace with their advancement in clinical development, thereby continuously raising shareholder value. In 2009/2010, new information and clinical data will be published relating to all three of these projects.
To strengthen the company's financial position and further drive the development of the company's clinical portfolio, the Board of Active Biotech has resolved to propose that the Annual General Meeting resolve to make a new share issue of approximately SEK 256 M with preferential rights for the shareholders.
It is proposed that the issue shall entitle existing shareholders with preferential rights to subscribe for one new share for each four shares held at an issue price of SEK 20 per share.
Read the complete press release below.
The Board of Active Biotech AB proposes