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| Name | Symbol | Market | Type |
|---|---|---|---|
| Novartis AG | NYSE:NVS | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 99.07 | 20 | 10:19:15 |
From May 2019 to May 2024
By Chris Wack
Mereo BioPharma Group Plc (MREO) American depositary shares rose 28% to $2 premarket after the company said it has entered into a $5 million convertible equity financing with Novartis Pharma AG (NVS).
The biopharmaceutical company said it also entered into a securities purchase agreement to issue up to $28 million of its ordinary shares exchangeable for ADSs, including a $3 million initial purchase, with Aspire Capital Fund LLC, a Chicago-based institutional investor.
Mereo said proceeds from these transactions will likely be used for general corporate purposes, including clinical trial activity and working capital.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
February 10, 2020 07:52 ET (12:52 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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