Alltracel shares rise after fundraising

SHARES in Alltracel Pharmaceuticals rose more than 2% yesterday after the fledgling Dublin-based first aid product developer completed a €6.8 million fundraising round.

The company also said yesterday it had recorded losses of €2.2m for the six months to June.

Revenues surged from €500,000 to €2m during the period as the company broadened the sales base of its core anti-bleeding products, but the bottom line took a hit from increased selling, distribution and administrative costs associated with entering new markets.