Skip to main content
Premium Trial:

Request an Annual Quote

MDRNA Closes $1M Bridge Loan


MDRNA said last week that it has closed a $1 million bridge loan worth $1 million.

Under the terms of the loan, the company sold $1 million in promissory notes and issued warrants to certain accredited investors to purchase an aggregate of about 1.1 million of its shares at $1.02 per share.

"This bridge loan provides us with the flexibility to pursue partnering and financing options into the beginning of next year," MDRNA President and CEO Michael French said in a statement. "As we continue to execute on our business strategy, this ensures that we have sufficient resources to achieve our near-term objectives."

The loan will become due and payable on February 1, 2010, with interest calculated at 12 percent annually and payable on the due date, MDRNA said. The loan is to be secured against the assets of MDRNA and its subsidiaries.

The Scan

Not as High as Hoped

The Associated Press says initial results from a trial of CureVac's SARS-CoV-2 vaccine suggests low effectiveness in preventing COVID-19.

Finding Freshwater DNA

A new research project plans to use eDNA sampling to analyze freshwater rivers across the world, the Guardian reports.

Rise in Payments

Kaiser Health News investigates the rise of payments made by medical device companies to surgeons that could be in violation of anti-kickback laws.

Nature Papers Present Ginkgo Biloba Genome Assembly, Collection of Polygenic Indexes, More

In Nature this week: a nearly complete Ginkgo biloba genome assembly, polygenic indexes for dozens of phenotypes, and more.