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Imugene ( (AU:IMU) ) has issued an update.
Imugene Limited has secured strong shareholder backing at its Extraordinary General Meeting, with all resolutions passed by poll, clearing the way for completion of its latest capital-raising initiatives. The approvals cover tranche two of an institutional placement and securities issued under a share purchase plan, consolidating investor support for the company’s clinical ambitions.
The company completed its share purchase plan, raising $2.18 million at $0.145 per share, alongside $1.82 million in shortfall subscriptions from institutional investors, bringing total proceeds from the institutional placement and SPP to $16 million. The fresh capital, managed by joint lead managers E&P Capital, Barrenjoey Markets and Bell Potter, strengthens Imugene’s funding base as it advances azer-cel and prepares to showcase new data at the ASCO meeting in June.
The most recent analyst rating on (AU:IMU) stock is a Buy with a A$0.82 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 Australian clinical-stage cell therapy company focused on developing allogeneic CAR T treatments for blood cancers. Its lead asset, azer-cel (azercabtagene zapreleucel), is an off-the-shelf CAR T cell therapy targeting CD19, supported by an international team of cancer experts experienced in novel oncology drug development.
Average Trading Volume: 1,535,728
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$51.77M
See more data about IMU stock on TipRanks’ Stock Analysis page.