02:17 AM EDT, 07/18/2022 (MT Newswires) -- Akeso (HKG:9926) completed its share placement of 24 million new shares, raising net proceeds of $73.5 million.
The shares were placed to not less than six placees at HK$24.27 ($3.09) apiece.
The company intends to use the proceeds from the share placement for the marketing and commercialization of Cadonilimab, as well as for the clinical trials of Ivonescimab, Cadonilimab and Ebronucimab. The remaining proceeds will be used for other general corporate purposes.
Morgan Stanley Asia served as the placing agent for the transaction.