This should be an exiting week for Relief Therapeutic (OTC:RLFTF) investors. The company is expected to release topline data results and other information during the week for their Phase 2B/3 Trial of Zyesami.
According to a previous release, no drug-related serious adverse events have been reported and enrollment was increased from 165 patients in order to amass as large a safety database as possible. Top line data are expected in late January – early February 2021.
Relief Therapeutics implements new facility with main shareholder GEM
In a recent release, Relief has implemented a deal with main shareholder company GEM (Global Yield LLC SCS) for a new Share Subscription Facility or SSF.
Under the terms of the SSF, Relief has the right to periodically, during a timeframe of up to three years, issue and sell shares to GEM. Under the facility, GEM undertakes to subscribe to or acquire ordinary registered RELIEF THERAPEUTICS Holding AG shares upon Relief’s exercise of a draw down notice.
In accordance with the customary terms of the SSF agreement, Relief will control the timing and maximum amount of any draw down, and retains the right, not the obligation, to draw down on the full commitment amount.
Future subscription prices under the SSF will correspond to 90% of the average of the closing bid prices on the SIX Swiss Exchange during the reference period, which corresponds to 15 trading days following Relief’s draw down notice.
Proceeds from the SSF drawdowns will be used to produce commercial quantities of Zyesami, previously known as RLF-100 (aviptadil) and acquire additional assets to expand and diversify Relief’s drug pipeline.
