Cyclopharm Limited (AU:CYC) has released an update.
Cyclopharm has marked its expansion into the US with initial revenues of $250,000 from the sale of its Technegas product, which is now fully reimbursable in the US following a key CMS designation. Amidst a robust sales pipeline with contracts for up to 71 installations in the US, the company has completed a $24 million capital raise to fuel this growth. Despite a slight downturn in global revenues, the strong US performance and capital boost position Cyclopharm well for its target of 300 US installations by the end of 2025.
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