Starting with the fundraising, the AIM-quoted company issued 80mln new shares at 1.25p apiece – higher than Wednesday’s closing price of 1.15p.
That £1mln will be used for advancing the clinical trial of its lead compound, VAL201, as well as for advancing other pre-clinical programmes.
Addressing the recent share price rise this week, ValiRx said it believed the increase was a “consequence of comments and analysis surrounding the company's developmental pipeline”.
It confirmed that it remains on track to disclose full results from phase II clinical trial of its VAL401 novel cancer treatment drug before the end of the year.
Shares jumped 11.7% to 1.28p late on Thursday.