Control Bionics Secures $3.25 Million to Boost Commercial Growth

An update from Control Bionics Ltd. ( (AU:CBL) ) is now available.

Control Bionics Limited has successfully raised $3.25 million through a private placement of 50 million new shares, priced at $0.065 each. This funding, anchored by Reitham Equity GmbH, will enhance the company’s working capital to accelerate its commercialization programs in assistive technology and emerging neurotechnology markets. The investment is expected to strengthen Control Bionics’ global footprint and support key initiatives in assistive communication, rehabilitation, and sports performance, ultimately improving the quality of life and performance for users worldwide.

The most recent analyst rating on (AU:CBL) stock is a Hold with a A$0.07 price target. To see the full list of analyst forecasts on Control Bionics Ltd. stock, see the AU:CBL Stock Forecast page.

More about Control Bionics Ltd.

Control Bionics is a medical device company with over 20 years of experience in developing surface Electromyography (EMG) devices. Its core technology, NeuroNode, is a wireless wearable device that captures EMG output to enable speech and computer-controlled functions. The company is also commercializing the NeuroStrip, a miniaturized EMG device for new markets such as health diagnostics, sports performance, and rehabilitation. Control Bionics operates in North America, Australia, Singapore, and Japan.

Average Trading Volume: 1,062,519

Technical Sentiment Signal: Buy

Current Market Cap: A$24.04M

For a thorough assessment of CBL stock, go to TipRanks’ Stock Analysis page.