TME Pharma: in the red, a broker cuts its target

(CercleFinance.com) - TME Pharma is down nearly 4% in Paris, after Invest Securities confirmed its buy rating on the stock, with a price target reduced from 0.
61 to 0.49 euros.

On Monday after trading, the company announced the launch of a capital increase secured by a guarantee agreement subscribed by professional investors who contributed €2.2 million. A total of 2.35 million euros was raised, extending the company's financial visibility to the end of 2024, or even the beginning of 2025.

The company intends to prioritize (i) the development of its GBM program and (ii) the plan to identify industrial and/or financial partners to support the upcoming Ph II trial in GBM.

Finally, TME Pharma plans to sell the rights to its NOX-E36 product to generate revenues, reports the analyst.


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