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An announcement from Cynata Therapeutics Limited ( (AU:CYP) ) is now available.
Cynata Therapeutics has raised approximately $1.2 million in net proceeds via its At-The-Market Subscription Agreement with Acuity Capital, achieved through the set-off of 4.3 million previously issued shares at a deemed price of $0.28, an 11.1% discount to the last traded price. The funds will be used for working capital, strengthening Cynata’s financial position as it advances multiple Cymerus™-based cell therapy clinical programs and supports ongoing development in a competitive regenerative medicine sector.
The most recent analyst rating on (AU:CYP) stock is a Hold with a A$0.30 price target. To see the full list of analyst forecasts on Cynata Therapeutics Limited stock, see the AU:CYP Stock Forecast page.
More about Cynata Therapeutics Limited
Cynata Therapeutics Limited is an Australian clinical-stage stem cell and regenerative medicine company developing cell-based therapies using its proprietary Cymerus™ platform, which leverages induced pluripotent stem cells to manufacture mesenchymal stem cells at commercial scale. The company’s pipeline includes Cymerus-derived product candidates in clinical trials for conditions such as steroid-resistant acute graft versus host disease, diabetic foot ulcers, kidney transplantation and osteoarthritis, alongside preclinical programs targeting a range of cardiovascular, inflammatory and respiratory diseases.
Average Trading Volume: 293,429
Technical Sentiment Signal: Buy
Current Market Cap: A$75.99M
For a thorough assessment of CYP stock, go to TipRanks’ Stock Analysis page.