Tiziana Life shares rise 19.31% after-hours after closing $8.8M direct offering to fund Phase 2 trials.

Tiziana Life Sciences surged 19.31% in after-hours trading following the announcement of an oversubscribed $8.8 million registered direct offering of 7.04 million ordinary shares, led by CEO Ivor Elrifi and Executive Chairman Gabriele Cerrone. The offering, conducted without underwriters, provided gross proceeds to fund Phase 2 clinical trials for intranasal foralumab in non-active secondary progressive multiple sclerosis (na-SPMS) and multiple system atrophy (MSA), with top-line data expected soon. Participants received warrants exercisable at $1.50 per share until July 2026, potentially generating an additional $10.56 million. The transaction, executed by senior management and existing shareholders, signals strong confidence in the company’s pipeline and strategic progress, directly aligning with the stock’s post-announcement rally.