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Rhythm Biosciences Ltd. ( (AU:RHY) ) has provided an update.
Rhythm Biosciences has revised the final proceeds from its recently underwritten RHYO options, noting they were about A$300,000, or 5%, lower than previously stated due to an administrative error by a professional service provider that understated the shortfall available to the underwriter. The company said no additional shares were issued, its stated capital remains accurate, and it is conducting further enquiries into the matter, limiting the financial impact while addressing governance and process integrity concerns for investors.
More about Rhythm Biosciences Ltd.
Rhythm Biosciences Ltd is an Australian medical diagnostics company focused on developing simple, affordable blood tests for accurate and early cancer detection. Founded in 2017 and based in Melbourne, it is commercialising the ColoSTAT blood test for colorectal cancer, based on CSIRO research, and leveraging the geneType genetic risk assessment platform across multiple diseases, targeting the preventive healthcare and precision medicine markets.
Average Trading Volume: 918,235
Technical Sentiment Signal: Buy
Current Market Cap: A$63.71M
For an in-depth examination of RHY stock, go to TipRanks’ Overview page.