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Ocumetics Technology Corp ( (TSE:OTC) ) has issued an update.
Ocumetics Technology Corp. has closed the first tranche of a brokered private placement and a concurrent non-brokered placement, raising total gross proceeds of approximately $1.02 million through the sale of 1,706,383 units at $0.60 per unit, each unit comprised of one common share and one warrant exercisable at $0.75 until late 2028. The funds are earmarked primarily to support the company’s first-in-human clinical trials, ongoing R&D and general corporate purposes, with the offering led by Centurion One Capital and involving participation by several directors, underscoring insider support as Ocumetics advances its clinical and commercialization trajectory in the ophthalmic technology space.
The most recent analyst rating on (TSE:OTC) stock is a Hold with a C$0.58 price target. To see the full list of analyst forecasts on Ocumetics Technology Corp stock, see the TSE:OTC Stock Forecast page.
Spark’s Take on TSE:OTC Stock
According to Spark, TipRanks’ AI Analyst, TSE:OTC is a Neutral.
The score is primarily held down by very weak financial performance (no revenue, ongoing losses, negative equity, and persistent cash burn). Technicals also remain bearish with the stock trading below key moving averages and negative MACD, despite oversold readings. Positive corporate updates around clinical progress and financing provide some support but are not yet reflected in operating fundamentals.
To see Spark’s full report on TSE:OTC stock, click here.
More about Ocumetics Technology Corp
Ocumetics Technology Corp. is a Calgary-based medical technology company listed on the TSX Venture Exchange and OTCQB that is focused on ophthalmic innovation, including advanced intraocular solutions aimed at improving vision outcomes for patients. The company operates in the eye-care and medical device sector, targeting clinical development and commercialization opportunities in global ophthalmology markets.
Average Trading Volume: 35,831
Technical Sentiment Signal: Buy
Current Market Cap: C$29.48M
Learn more about OTC stock on TipRanks’ Stock Analysis page.