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Control Bionics Ltd. ( (AU:CBL) ) has provided an update.
Control Bionics Ltd. has announced a 1-for-5 non-renounceable rights issue to raise up to approximately $2.062 million. The funds will support the company’s growth initiatives, particularly the commercial rollout of NeuroStrip and expansion of the NeuroNode strategy. The company is negotiating distribution partnerships and conducting rehabilitation trials, with positive feedback and expected customer contracts by the end of 2025. The rights issue is partially underwritten, and the company aims to enhance its operational capacity and meet anticipated demand through targeted investments.
More about Control Bionics Ltd.
Control Bionics Ltd. operates in the biotechnology industry, focusing on developing and commercializing assistive technology products. Its primary products include NeuroNode and NeuroStrip, which are designed to aid individuals with severe disabilities in communication and mobility. The company is actively working on expanding its market presence in Australia and the US.
Average Trading Volume: 155,793
Technical Sentiment Signal: Sell
Current Market Cap: A$11.49M
Find detailed analytics on CBL stock on TipRanks’ Stock Analysis page.