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Invion ( (AU:IVX) ) has shared an update.
Invion has secured commitments to raise about $1.3 million through a non-interest-bearing convertible note issue, strongly backed by Executive Chair and CEO Professor Thian Chew and major shareholder XiaoYi Wu as cornerstone investors. The funding, structured in two tranches and on terms that set a floor and cap for conversion into equity, will be directed primarily toward accelerating clinical trials in non-melanoma skin cancer and anogenital cancer, supporting partner-funded pre-clinical programs, and bolstering working capital. Management highlights a busy 12 months ahead, with expected clinical readouts, ethics approvals for a new anogenital cancer trial with Peter MacCallum Cancer Centre, and updates from international and animal-health partners, underscoring growing confidence in Invion’s Photosoft platform and its broader oncology ambitions.
The most recent analyst rating on (AU:IVX) stock is a Hold with a A$0.09 price target. To see the full list of analyst forecasts on Invion stock, see the AU:IVX Stock Forecast page.
More about Invion
Invion Limited is an ASX-listed Australian biotech company focused on developing its Photosoft-branded photodynamic therapy platform for the treatment of multiple cancers in human and animal health. The company is advancing clinical programs in non-melanoma skin cancer and anogenital cancers, while also collaborating with international partners on pre-clinical studies in oesophageal and companion animal cancers.
Average Trading Volume: 110,101
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$7.88M
For an in-depth examination of IVX stock, go to TipRanks’ Overview page.