04:34 PM EDT, 06/20/2025 (MT Newswires) -- Pharmala Biotech ( MDXXF ) after trade Friday said it filed a preliminary base shelf prospectus with Canadian securities regulators.

This filing gives the company flexibility to raise up to $50 million through various types of securities, such as shares, warrants, or debt, over the next 25 months, if market conditions are favorable, it said.

The prospectus has been filed in all Canadian provinces and territories and may also support potential "at-the-market" offerings, allowing PharmAla to sell securities directly through the Canadian Securities Exchange. However, the company has no immediate plans to issue any securities under this prospectus, and any future offering would be detailed in a separate filing outlining terms and intended use of funds, the company said.