Redx Pharma expects $125million Skye Bioscience deal to complete soon
Alderley Park based Redx Pharma made losses of £18.4 million (FY to 30 September 2024: £17.5 million) for the 15-month period ended 31 December 2025, following the change in the Company’s financial year end from 30 September to 31 December.
However, Lisa Anson, Chief Executive Officer, Redx, said “significant progress” in clinical development capabilities puts the business on a strong footing and expects its deals with Skye Bioscience to complete this year and deliver aggregate gross proceeds of up to $125 million.
“We expect this transaction to close in the fourth quarter of 2026 and when completed, the transaction is anticipated to provide the combined company with a Nasdaq listing, with the financing expected to fund operations into 2029 and through key clinical milestones, including the topline data from the RXC008 Phase 2 clinical trial.”
Cash balance at 31 December 2025 of £3.9 million (30 September 2024: £18.6 million).
Redx has financing with aggregate gross proceeds of approximately $125 million, of which $36 million was received in August 2026 and further proceeds of up to $68 million from the PIPE Financing and access to up to $22 million from the ELOC are expected upon completion of the Transaction.
