LTR Pharma has announced that the Company’s shares will commence trading on the Australian Securities Exchange (ASX) at 11.00 am AEDT on Monday 11 December 2023, under ticker code ASX:LTP.
The Company successfully raised $7m from new and existing shareholders through an oversubscribed IPO at an issue price of $0.20 per share, with @Alpine Capital acting as lead manager.
The proceeds from the raise will be used to advance the Company’s intranasal spray for erectile dysfunction, SPONTAN®, on an expedited commercial pathway to market.
LTR Pharma Chairman, Lee Rodne, said:
“We are deeply encouraged by the support we have received from our new and existing shareholders as part of the IPO journey for LTR Pharma. This is an exciting chapter, with funds raised to be directly applied to fast tracking SPONTAN® to commercialisation.”