In recent times, Relief Therapeutics Holding (OTC: RLFTF) has been one of the companies to have come into focus among investors who might have been looking for coronavirus plays. However, in recent times the stock has been trading within a narrow range.
While it remains to be seen if the stock can eventually break out and go on a rally, it might be a good idea for investors to take a look at development from earlier on this month. The company, which currently has its COVID 19 medicine RLF 100 in an advanced stage of development, announced on March 12 that it entered into a definitive share purchase agreement with institutional investors.
The investor in question is going to buy as many as 41,459,370 shares of the Relief common stock for a price of CHF 0.2412 each. It is a private placement and had been closed on March 16. However, it goes without saying, that it is a significant development for Relief Therapeutics.