Singapore-listed IX Biopharma receives a USD 40.95 million contract from the U.S. government to develop painkillers | Lianhe Zaobao
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Singapore biopharmaceutical company IX Biopharma has received a research and development contract worth $40.95 million from the U.S. Department of Defense to develop sublingual ketamine tablets for the treatment of moderate to severe acute pain. To fulfill the contract, the company plans to issue new shares at a price of 19.8 cents per share to raise 6 million yuan, representing a discount of 7.1%. The contract will be executed on a cost-reimbursement basis, and IX Biopharma's stock has resumed trading, with the current stock price at 0.20 yuan, down 4.76%
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