Biotech Daily: Dr Boreham’s Crucible: Arovella Therapeutics
Little by little, investor purse strings are re-opening and biotechs are raising capital again. But their efforts are in dribs and drabs and no-one is aiming too high. An exemplar is Arovella, the cancer immunotherapy play that raised $4.1 million and strived for an additional $1 million by way of a share purchase plan (SPP). As it happened, on Tuesday the company announced the SPP had raised $2.2 million and - yes - the company would keep the over-subscription bestowed by the biotech gods.
