Rakovina Therapeutics plans $1.5M private placement

Rakovina Therapeutics Inc. (TSX-V: RKV, FSE: 7JO0) announced a non-brokered private placement of up to $1.5 million, according to a press release from the Vancouver-based biopharmaceutical company.

The offering consists of up to 15 million units priced at $0.10 per unit. Each unit includes one common share and one-half of one common share purchase warrant. Each whole warrant allows the holder to purchase one additional common share at $0.20, exercisable for 24 months from issuance.

The company stated that proceeds will primarily fund in vivo ADME and efficacy testing for its kt-5000AI dual ATR/mTOR inhibitor program and AI-driven lead optimization through its collaboration with Variational AI. Funds will also support advancement of the kt-3000 LNP formulation program, ongoing kt-2000AI compound development, and expansion of AI-enabled drug discovery collaborations. Remaining proceeds will go toward general working capital.

The securities will be subject to a resale restriction period of four months plus one day from the date of issue, in accordance with applicable Canadian securities laws.

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