Redeye comments on Alligator Bioscience’s outcome of its TO14 warrant exercise, which adds approximately SEK12m in net proceeds (after costs and repayment of loans to Fenja). The subscription rate of 38% came in better than expected, considering that the warrants were out of the money. We estimate that the cash runway extends two months from Q2 2026e to mid/late Q3 2026e.
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