Business

Therapix Biosciences Ltd. (NASDAQ:TRPX) enters definitive agreements with several accredited and institutional investors

On Wednesday Therapix Biosciences Ltd. (NASDAQ:TRPX)  stock raised 0% and closed at 1.29. The stock opened the session at $1.26 and touched its highest price point at $1.4. Its recent trading capacity is 104680 shares versus to its average trading volume of 116970 shares. The company’s stock’s lowest price point for the session stood at $1.26. TRPX traded as low as $ 1.25 in the past 52 weeks, and shares hit its peak level to $5.64.

On Dec. 04, 2019, Therapix Biosciences Ltd. (NASDAQ:TRPX) a specialty, clinical-stage pharmaceutical company focusing on the development of cannabinoid-based treatments, released that it has entered into definitive agreements with several accredited and institutional investors providing for the issuance of an aggregate of 1,000,000 American depositary shares (ADSs) at a purchase price of $1.25 per ADS in a registered direct offering.

The offering is expected to result in gross proceeds to Therapix of $1,250,000. Therapix intends to use the net proceeds from the offering for general corporate purposes.

About Therapix Biosciences (Nasdaq: TRPX):

Therapix Biosciences Ltd. is a specialty clinical-stage pharmaceutical company led by an experienced team of senior executives and scientists. Our focus is creating and enhancing a portfolio of technologies and assets based on cannabinoid pharmaceuticals. With this focus, the company is currently engaged in the following drug development programs based on tetrahydrocannabinol (THC): THX-110 for the treatment of Tourette syndrome (TS), for the treatment of obstructive sleep apnea (OSA), and for the treatment of pain; and THX-160 for the treatment of pain; and an additional drug development program based on non-psychoactive cannabinoid Cannabidiol (CBD) and palmitoylethanolamide (PEA) for the treatment of epilepsy, as well as inflammatory conditions.

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