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Isofol Medical plans to raise cSEK400m through a fully guaranteed rights issue, with an optional extra cSEK100m. Net proceeds are expected to be used to bring arfolitixorin beyond top-line results to submission to the FDA and EMA, as well as for pre-commercial activities and the exploration of additional indications. Top-line results are expected in H1 2022, with subsequent filing in H2 2022. As the terms of the rights issue have yet to be disclosed, our estimates are unchanged and we reiterate our SEK21–37 fair value.
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