Diurnal (DNL) is a commercial-stage specialty pharmaceutical company focused on diseases of the endocrine system. Its two lead products target rare conditions where medical needs are currently unmet, with the aim of building a long-term ‘Adrenal Franchise’. Following regulatory approval, DNL will launch Alkindi in key European markets in 2018 through its own commercial infrastructure. Meanwhile, the company is pushing forward with Alkindi and Chronocort clinical trials in the US. To maintain this positive momentum, DNL has announced a Placing to raise gross new capital of up to £11m and, concomitantly, converting its debt into equity.