On June 27, 2023 Foresee Pharmaceuticals (TPEx: 6576), ("Foresee") reported that it has successfully completed an underwritten public offering of 17,500,000 shares of its common stock to the public at a price of NT$75 per share (Press release, Foresee Pharmaceuticals, JUN 27, 2023, View Source [SID1234632944]). The aggregate gross proceeds to Foresee from the offering were NT$1,312.5 million (or US$42.3 million at FX=31).

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"We are pleased to announce the successful completion of the public offering. I would like to express my gratitude once again for shareholders’ full support and trust in us," said Dr. Ben Chien, Founder and Chairman of Foresee. "Moving forward, we are excited about the prospects and opportunities ahead of us."

The proceeds of the public offering will be used for general corporate purposes, including FP-001 (CAMCEVI), a ready-to-use 6-month leuprolide injectable, in a Phase 3 clinical trial for central precocious puberty (CPP), FP-045, an ALDH2 activator, in a Phase 1b/2 clinical trial for Fanconi Anemia, and FP-025, an MMP-12 inhibitor, in a Phase 2 POC study for respiratory disease.