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Conavi Medical ( (TSE:CNVI) ) has issued an update.
Conavi Medical Corp. has closed a public equity offering raising approximately $12 million through the issuance of 26.7 million common shares at $0.45 per share, with Bloom Burton Securities acting as sole agent and receiving cash commissions and compensation options. The capital injection is intended to support U.S. FDA 510(k) clearance and a targeted U.S. market launch of the next-generation Novasight Hybrid system, as well as fund working capital and general corporate needs, signalling growing investor confidence in intravascular cardiovascular imaging technologies and strengthening Conavi’s position as it advances commercialization in the U.S. and other key markets.
The most recent analyst rating on (TSE:CNVI) stock is a Buy with a C$1.00 price target. To see the full list of analyst forecasts on Conavi Medical stock, see the TSE:CNVI Stock Forecast page.
More about Conavi Medical
Conavi Medical Corp., listed on the TSX Venture Exchange, is a commercial-stage medical device company specializing in imaging technologies that guide minimally invasive cardiovascular procedures. Its flagship product, the patented Novasight Hybrid System, is the first device to combine intravascular ultrasound (IVUS) and optical coherence tomography (OCT) for simultaneous, co-registered imaging of coronary arteries, with first-generation systems already cleared in major markets including the U.S., Canada, China and Japan.
Average Trading Volume: 25,706
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$24.05M
See more insights into CNVI stock on TipRanks’ Stock Analysis page.