Avacta Group plc ( (GB:AVCT) ) has shared an update.
Avacta Group plc has issued 9,384,366 new ordinary shares to settle a quarterly repayment of its unsecured convertible bond, reducing the principal amount by £2.55 million. This decision reflects the company’s strategy to maintain cash levels crucial for advancing its R&D pipeline amidst market volatility. The board is exploring various financing options, including partnerships and a potential NASDAQ dual listing, to support its clinical therapeutics programs.
More about Avacta Group plc
Avacta Therapeutics is a clinical-stage life sciences company focused on developing targeted oncology drugs. The company utilizes its proprietary pre|CISION® platform, which is designed to concentrate potent cancer therapies in the tumor microenvironment while sparing normal tissues. Avacta’s innovative pipeline includes pre|CISION® peptide drug conjugates and Affimer® drug conjugates, offering unique advantages over traditional antibody drug conjugates.
YTD Price Performance: -30.0%
Average Trading Volume: 1,796,597
Technical Sentiment Signal: Buy
Current Market Cap: £130.5M
For detailed information about AVCT stock, go to TipRanks’ Stock Analysis page.