Biotech company leading treatment for Alcohol Use Disorders (AUD). Awakn Life Sciences Corp. AWKNF has announced its financial results and business highlights for the three months to July 31, 2022.
During the phase Counting reflected:
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total revenue of $255,719 through its London, Bristol and Oslo clinics, compared to zero for the same period in 2021 (when the facilities were not yet open), and a 34 percent increase in total revenue of $190,473 in the three months ended March 30, 2021 April, 2022.
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closure of private placement 1,880,454 units issued at $0.41 each raised a total of $778,169 gross receipts
As for business updatesAwakn’s Phase III study recently raised approximately US$1.9 million (CAD$2.5 million). Funding from a UK government agencywhich covers 66% of the total cost while it has also completed the very first ketamine therapy to the Behavioral Addiction Study.
The company has also signed several agreement against his property Commercialization of MDMA products during this time, particularly by expanding Awakn’s presence in US and Canadian clinics.
Besides, it is anticipates approval for its phase III ketamine-assisted therapy for the AUD study, completion of his behavioral study of ketamine in gambling addiction and signing additional licensing deals for his ketamine therapy for treating AUD, all before this year’s second half ends.
Awakn will now start one new private placement financing option of up to $2,257,800 (CA$3,000,000) by issuing up to 5,454,546 units at $0.41 (CA$0.55) each. Under the first tranche, the Company issued 1,880,454 shares for gross proceeds of $778,376 and has also received underwriting commitments for an additional 3,090,909 units for potential additional proceeds of $1,279,420.
Each unit represents one common share of Awakn’s capital and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $0.51 (CA$0.68) per common share for a period of 24 months from the date of issuance.
With regard…
