Holista Colltech Limited ( (AU:HCT) ) has provided an announcement.
Holista Colltech Ltd is facing legal challenges in the U.S. as the United States Court of Appeals dismissed its appeal in a case against The ProImmune Company, LLC, resulting in a damages award of US$2,068,000. Holista plans to defend itself in Australian courts, alleging the judgment was obtained through fraudulent representations by ProImmune. Concurrently, Holista has secured commitments from convertible note holders to raise A$1.54 million, which will be used to settle an ASIC penalty and for working capital.
More about Holista Colltech Limited
Holista Colltech Ltd is a research-driven biotech company formed from the merger of Holista Biotech Sdn Bhd and Colltech Australia Ltd. Listed on the Australian Securities Exchange, the company is headquartered in Perth and operates in multiple countries, including Malaysia and North America. Holista focuses on developing natural solutions for healthier living, offering proprietary solutions for food manufacturers to create healthier products without chemicals. The company also specializes in advanced collagen and nano-collagen technologies.
YTD Price Performance: 130.77%
Average Trading Volume: 266,913
Technical Sentiment Consensus Rating: Hold
Current Market Cap: A$8.57M
For detailed information about HCT stock, go to TipRanks’ Stock Analysis page.