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An update from Regeneus Ltd. ( (AU:CMB) ) is now available.
Cambium Bio has secured a A$2.4 million strategic equity investment from major shareholder and long-term partner ZYBT via a placement of 4,363,637 new shares at A$0.55, a 20% premium to the last closing price, which will increase ZYBT’s stake from 28.1% to about 39.6%, subject to shareholder approval. The funds, alongside recent financing initiatives, will be directed to initiating patient dosing and manufacturing investigational product for pivotal Phase 3 trials of Elate Ocular® in the United States, Australia and Taiwan, strengthening Cambium Bio’s capital position and strategic alignment as it advances a late-stage program in the sizeable dry eye disease market.
The most recent analyst rating on (AU:CMB) stock is a Sell with a A$0.44 price target. To see the full list of analyst forecasts on Regeneus Ltd. stock, see the AU:CMB Stock Forecast page.
More about Regeneus Ltd.
Cambium Bio Limited is a clinical-stage regenerative medicine company specialising in ophthalmology and tissue repair, with a key focus on developing Elate Ocular®, a fibrinogen-depleted human platelet lysate–based therapy for dry eye disease. The company partners with Zheng Yang Biomedical Technology Co., Ltd. (ZYBT), which holds worldwide manufacturing rights for its active biologic ingredient and regional commercialisation rights for Elate Ocular® in China, Singapore and Taiwan, targeting the global dry eye market estimated at around US$6 billion.
Average Trading Volume: 3,284
Technical Sentiment Signal: Sell
Current Market Cap: A$10.57M
Find detailed analytics on CMB stock on TipRanks’ Stock Analysis page.