Bullish indicating open at $55-$60, IPO prices at $37
LONDON - Poolbeg Pharma plc (AIM:POLB), a clinical-stage biopharmaceutical company, has announced an increase in its BookBuild Offer shares following significant oversubscription. Originally detailed on Monday, the offer will now include 6,000,000 shares at the issue price, aiming to raise gross proceeds of £150,000.
The company, which focuses on developing innovative treatments for unmet medical needs, stated that the additional funds would extend its financial runway into 2027. Key milestones include the Phase 2a trial of POLB 001, an oral drug intended to prevent severe side effects associated with cancer immunotherapies. The trial is set to begin in the second half of this year, with interim analysis expected in the first half of 2026 and topline data in the latter half of the same year.
Additionally, Poolbeg Pharma is preparing for an oral GLP-1 proof of concept trial targeting the obesity market. The trial is anticipated to start soon, with topline data expected in the first half of 2026.
The BookBuild Offer, which is available to eligible investors in the United Kingdom (TADAWUL:4280), is set to close today at 4.30 p.m. However, investors should be aware that intermediaries may have earlier deadlines. The offer is separate from the company’s Placing and Subscription, with the latter not contingent on the former’s completion.
The issuance of new ordinary shares, including those from the BookBuild Offer, is contingent upon the passing of certain resolutions at a general meeting scheduled for 23 June 2025. Admission of the new shares to trading on the AIM market of the London Stock Exchange (LON:LSEG) is expected to occur on 25 June 2025, subject to agreement between Shore Capital and Poolbeg Pharma.
This announcement is based on a press release statement and contains information that, upon publication, is no longer considered inside information under UK domestic law.
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