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Hexima Ltd ( (AU:HXL) ) has shared an announcement.
Hexima Limited announced that it will not proceed with the acquisition of Real Thing Entertainment Pty Ltd, an AI platform developer, due to unmet conditions, including shareholder approvals and capital raising requirements. The company closed the quarter with a cash balance of $1.64 million, utilizing $258,000 in net cash for operating activities primarily on compliance and professional fees related to the canceled acquisition. Hexima is exploring other strategic opportunities related to its biotech intellectual property portfolio.
More about Hexima Ltd
Hexima Limited operates in the biotechnology industry, focusing on the development and exploitation of its intellectual property portfolio, from which it retains royalty rights. The company is based in Melbourne, Australia.
YTD Price Performance: 30.0%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$2.17M
Find detailed analytics on HXL stock on TipRanks’ Stock Analysis page.