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BCAL Diagnostics Limited ( (AU:BDX) ) has provided an announcement.
BCAL Diagnostics Limited has announced the establishment of a $10 million Convertible Note facility to bolster its working capital and support its commercialization strategy. With firm commitments for $5 million already secured, this facility strengthens BCAL’s capital position, enabling the company to progress its commercial and technical milestones, particularly in delivering innovative cancer detection solutions. The facility offers favorable terms, including a 10% annual interest rate and conversion options into ordinary shares, subject to shareholder approval.
More about BCAL Diagnostics Limited
BCAL Diagnostics Limited is an Australian biotechnology company specializing in early multi-cancer detection. The company holds an exclusive license agreement with ClearNote Health Inc. for distributing pancreatic and ovarian cancer blood tests in Australia. BCAL is also advancing breast cancer detection through its non-invasive, lipid-based BREASTEST plus™, aimed at improving screening and diagnostic outcomes for women with dense breasts. Founded in 2010, BCAL is headquartered in Sydney and listed on the Australian Securities Exchange.
Average Trading Volume: 300,459
Technical Sentiment Signal: Hold
Current Market Cap: A$28.91M
For detailed information about BDX stock, go to TipRanks’ Stock Analysis page.