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The latest announcement is out from Biotron Limited ( (AU:BIT) ).
Biotron Limited has responded to an ASX query regarding its financial disclosures, confirming compliance with accounting standards and the accuracy of its financial position. The company highlighted its dependency on raising additional funds or forming strategic partnerships to maintain operations. Due to delays in securing a partner, Biotron emphasized the need for at least six months of operational cash, leading to a share purchase plan (SPP) to raise necessary capital. The company considered various funding options, ultimately opting for an SPP, and later accepted a partially underwritten rights issue to avoid insolvency.
More about Biotron Limited
Biotron Limited operates in the biotechnology industry, focusing on the development of antiviral programs. The company is engaged in identifying and achieving strategic partnerships to advance its portfolio of antiviral products.
YTD Price Performance: 390.0%
Average Trading Volume: 31,750
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $4.53M
Learn more about BIT stock on TipRanks’ Stock Analysis page.