BUZZ-Edesa Biotech to raise $15 million to fund trial; shares rise

Shares of drug developer Edesa Biotech EDSA.O surge 68.9% to $3.1 in morning trade

EDSA says it is raising $15 million from private placement of shares

Co says it will use the proceeds towards a mid-stage trial evaluating its experimental treatment EB06 in patients with nonsegmental vitiligo, a chronic skin disorder that causes patches and loss of skin color

Co says shares were offered directly to the investors without a placement agent, underwriter, broker or dealer

Co has 3.47 mln outstanding shares and market value of $6.45 mln - LSEG data

Stock fell ~69% in the last 12 months