Imugene Announces Share Consolidation and Seeks Approval for New Share Issuance

Imugene Limited ( (AU:IMU) ) has provided an announcement.

Imugene Limited has announced a 34:1 share consolidation to improve market perception and attract institutional investors, aligning with a crucial phase in its Azer-Cel program. Additionally, the company seeks shareholder approval to issue up to 1.2 billion new shares pre-consolidation, providing flexibility for potential funding opportunities, ensuring sustained growth and operational support through 2025.

The most recent analyst rating on (AU:IMU) stock is a Buy with a A$0.42 price target. To see the full list of analyst forecasts on Imugene Limited stock, see the AU:IMU Stock Forecast page.

More about Imugene Limited

Imugene Limited operates in the biotechnology industry, focusing on the development of novel therapies for cancer treatment. The company is known for its innovative programs, including the Azer-Cel program, which is currently in a pivotal phase with multiple key catalysts anticipated.

Average Trading Volume: 23,805,993

Technical Sentiment Signal: Sell

Current Market Cap: A$126.9M

For detailed information about IMU stock, go to TipRanks’ Stock Analysis page.