Polaryx Therapeutics Closes $10M PIPE for SOTERIA Trial


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Polaryx Therapeutics Closes $10 Million Private Placement to Advance SOTERIA Trial
Paramus, New Jersey - Polaryx Therapeutics, Inc. (Nasdaq: PLYX), a clinical-stage biotechnology company focused on lysosomal storage disorders (LSDs), has successfully closed a private investment in public equity (PIPE) financing, securing $10 million in proceeds. This funding is intended to bolster the company's financial position as it moves toward critical clinical development milestones.
The PIPE financing consisted of the issuance of 2,502,696 shares of common stock at an average purchase price of approximately $4.00 per share. The company stated that these funds, alongside existing cash and cash equivalents, will support the initiation of the Phase 2 SOTERIA trial.
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About Polaryx Therapeutics, Inc.
Biotechnology
Private Placement

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