Molecular Data Inc. (MKD) has seen an increase of 12.06% in the aftermarket. However, the last trading session concluded at $0.3516 with a decrease of 2.33%.
MKD Closes $15 Million Registered Direct Offering
On 22 September 2021, MKD announced the completion of its previously announced registered direct offering. It consisted of one American Depositary Share or ADS. Each one of them represents
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- three of its Class A ordinary shares, and one warrant to purchase one ADS.
- pre-funded units, which consist of one pre-funded warrant to purchase one ADS and one warrant to purchase one ADS.
Prior to deducting placement agent fees and other projected offering expenses, the total proceeds of the offering were around $15 million. Lastly, the net revenues will be used for working capital and other business objectives, according to the company.
Logistics capabilities with renowned player partnership
On 13th September 2021, MKD stated that it has signed a strategic partnership memorandum for a possible transaction. This includes a share in a well-known Chinese logistics company with almost a decade of experience in the field.
The chemical logistics industry is expected to reach USD50 billion by 2020, with about 300,000 vehicles involved in hazardous chemicals delivery. Customers will be able to enhance logistics efficiency and lower costs thanks to the collaboration’s deployment of technologies to precisely dispatch these trucks.
Digital Strategy upgrade and product launch
MKD announced a digital strategy upgrade and product launch on 22 July 2021. The company signed four memorandums of understanding with a product user, a financial institution, an investment fund, and a supply chain services provider during a product update launch event in Shanghai.
In sectors like supply chain services and banking, the collaboration will reach out to many more SMEs. In addition, logistics cooperation will satisfy increasing demands in both the infrastructure and logistics arena.
MKD upgrades its digital tools using Blockchain
MKD signed an agreement with Dalian Lianhua Chemical Co., Ltd on 1st April 2021. The two firms will combine their skills in the future to aid quick R&D development in local pharmaceutical enterprises and the drug synthesis sectors. MKD is already utilizing digital technologies such as big data and neural networks to accomplish intelligent supply chain optimization.
The judicious usage of Blockchain Oracle will help local pharmaceutical firms advance their scientific research. Lastly, Lianhua and Molecular Data plan to work together to service a wide spectrum of pharmaceutical, biotechnology, agrochemical, and specialty chemical industries across the world.