Hexima Completes $1m SPP
- Biotechnology company Hexima (HXL) successfully completes its share purchase plan (SPP) and raises $1 million
- The SPP was oversubscribed with the company receiving $3.2 million in applications, resulting in a significant scale-back of the applications
- Under the plan, eligible shareholders were able to subscribe for up to $30,000 worth of shares which were priced at 32 cents
- The company will use the money to complete the preparation and submission of an investigational new drug application to the FDA
- Shares in Hexim are down 2.78 per cent on the market and are trading at 35 cents
