Imagion Biosystems Ltd. (AU:IBX) has released an update.
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Imagion Biosystems Ltd. has released its Q2 FY2024 reports, highlighting significant cost reductions, including staff retrenchment and termination of facility leases, resulting in a lowered monthly cash burn and a focus on strategic partnerships for its MRI imaging technology. The company resumed trading after a temporary suspension and plans to raise new capital to advance its lead imaging agent’s clinical development. Despite a challenging funding environment, Imagion retains support from Mercer for its restructuring and refinancing plans.
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