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Imugene ( (AU:IMU) ) has shared an announcement.
Imugene has launched a capital raising of approximately $20 million via a two-tranche institutional placement and a share purchase plan (SPP), issuing new shares at $0.18 to Australian and international investors and eligible shareholders.
The company has already secured $12 million in firm commitments for the placement and minimum SPP shortfall support that lifts the guaranteed total to $16 million, with attached listed options and piggyback options potentially adding up to $40 million in future funding to advance the Phase 1b trial of azer-cel and restructure its convertible note arrangements with CVI Investments.
The most recent analyst rating on (AU:IMU) stock is a Sell with a A$0.21 price target. To see the full list of analyst forecasts on Imugene stock, see the AU:IMU Stock Forecast page.
More about Imugene
Imugene Limited is an ASX-listed clinical-stage immuno-oncology company based in Australia, focused on developing novel cancer therapies. Its pipeline includes azer-cel and other immunotherapies targeting solid tumours and blood cancers, positioning the company within the high-growth biotechnology and oncology therapeutics market.
Average Trading Volume: 1,405,648
Technical Sentiment Signal: Sell
Current Market Cap: A$73.95M
See more insights into IMU stock on TipRanks’ Stock Analysis page.