Asarina Pharma has completed a directed share issue of 2,159,148 shares to institutional owners that will bring gross proceeds of approximately SEK 48 million to the company. Existing shareholders did sell a total of 764,329 shares in conjunction. The participants in the directed issue have, in our view, once again validated this undiscovered biotech case. We are also positive about the restructuring of Asarina Pharma’s ownership base in the transaction.