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An announcement from OncoSil Medical Ltd ( (AU:OSL) ) is now available.
OncoSil Medical Ltd has successfully completed a $2 million Share Purchase Plan (SPP), which was strongly supported and oversubscribed by shareholders, receiving applications for approximately $4.5 million. The funds raised will be used to invest in the company’s Macquarie Park manufacturing facility, fund clinical trials, and cover other working capital costs. This financial boost is expected to enhance OncoSil’s focus on commercial activities and clinical trials for label expansion, ultimately aiming for increased market access and operational leverage.
More about OncoSil Medical Ltd
OncoSil Medical Ltd is a company that has developed a cancer treatment device known as the OncoSil™ brachytherapy device. This device is a key component of a revolutionary brachytherapy treatment for locally advanced unresectable pancreatic cancer, a disease with a poor prognosis and high mortality rate. The device has received breakthrough designation in the EU, UK, and US, and is approved for sale in over 30 countries, including the EU, UK, Türkiye, and Israel.
Average Trading Volume: 43,823
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$18.2M
For an in-depth examination of OSL stock, go to TipRanks’ Overview page.