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Imagion Biosystems Ltd. ( (AU:IBX) ) just unveiled an update.
Imagion Biosystems has issued 384,615 new ordinary shares to a service provider as a strategic move to conserve cash reserves. The shares were priced using a 10-day Volume Weighted Average Price of 3.94 cents per share, with a six-month trading lock applied to half of the issued shares. This issuance reflects Imagion’s efforts to manage its financial resources while continuing to focus on its core mission of improving cancer detection, potentially impacting its operational efficiency and stakeholder confidence.
More about Imagion Biosystems Ltd.
Imagion Biosystems is a company focused on advancing healthcare through early cancer detection using its proprietary MagSense® imaging technology. The company is developing a non-radioactive and precision diagnostic molecular imaging technology that combines biotechnology and nanotechnology to detect cancer and other diseases earlier and with higher specificity.
Average Trading Volume: 8,506,137
Technical Sentiment Signal: Sell
Current Market Cap: A$15.9M
Learn more about IBX stock on TipRanks’ Stock Analysis page.