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Actinogen Medical ( (AU:ACW) ) has shared an update.
Actinogen Medical has secured up to $13.8 million in non-dilutive funding through a Research and Development Tax Incentive, with an initial $3 million received and further amounts contingent on future approvals. This funding will support the ongoing XanaMIA phase 2b/3 Alzheimer’s disease trial and general working capital, strengthening the company’s financial position as it progresses toward key milestones, including interim analysis of its clinical trial.
More about Actinogen Medical
Actinogen Medical is an ASX-listed biotechnology company focused on developing novel therapies for neurological and neuropsychiatric diseases linked to dysregulated brain cortisol. Their lead compound, Xanamem, is being developed as a treatment for Alzheimer’s Disease, Depression, and potentially other conditions like Fragile X Syndrome. The company aims to address the substantial unmet medical need for improved treatments in these areas.
YTD Price Performance: -12.00%
Average Trading Volume: 8,515,253
Technical Sentiment Signal: Sell
Current Market Cap: A$69.9M
See more insights into ACW stock on TipRanks’ Stock Analysis page.