Aevi Genomic Medicine Announces Capital Raise of $4.9M to Accelerate Part B of the ASCEND Trial
AEVI GENOMIC MEDICINE INC (GNMX)
Last aevi genomic medicine inc earnings: 11/14 08:01 am
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aevigenomics.com
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Source: PR Newswire
PHILADELPHIA, Aug. 21, 2018 /PRNewswire/ -- Aevi Genomic Medicine, Inc. (NASDAQ: GNMX) (the Company) today announced the sale of 5.1 million shares of its common stock for aggregate proceeds of $4.9 million, before expenses. The sales were through the Company's existing ATM program, for which JMP Securities LLC acts as the Company's sales agent.The Company recently announced the completion of enrollment in Part A of the ASCEND trial and intends to use the net proceeds raised from the ATM to accelerate Part B of the ASCEND trial. Enrollment in Part B of the ASCEND trial has been initiated and will study patients without mGluR mutations. The Company has approximately 1,500 mGluR mutation negative patients in the ASCEND database from which it can enroll patients for Part B of the study. Pooled analysis of Part A and Part B of the ASCEND trial will also be conducted, if appropriate. A pooled analysis may provide greater power and enhance the ability to detect a smaller treatment effect. T
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