Strides Pharma Board of Directors to Host Fundraiser Feb. 10

Strides Pharma Science announced on Monday that the company’s board of directors will meet on February 10, 2022 to consider raising funds.

In an exchange filing, the company said the board would consider a proposal to raise funds on Feb. 10 through the issuance of convertible stock/warrants and/or any other instrument through preferential issuance on a private placement basis, subject to such regulatory or statutory approvals.

On the same day, the company will announce its financial results for the three and nine months ended December 31, 2021.

Shares of Strides Pharma were trading up 0.63% at Rs 392.05 on BSE.

Strides Pharma Science is a global pharmaceutical company. The company operates primarily in regulated markets and has an “in Africa for Africa” strategy as well as an institutional business to serve donor-funded markets. The company focuses on hard-to-manufacture products that are sold in over 100 countries.

The company reported a consolidated net loss of Rs 162.55 crore in Q2 FY22 against a net profit of Rs 80.94 crore in Q2 FY21. Operating revenue during the quarter fell by 9.08% year-on-year to Rs 721.47 crore.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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