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Rhythm Biosciences Ltd. ( (AU:RHY) ) has shared an update.
Rhythm Biosciences Ltd has secured $1 million in non-dilutive funding from Endpoints Capital, backed by its Research and Development Tax Incentive. This funding will support the company’s operations, including the commercial launch of the updated ColoSTAT® assay and expansion of the geneType™ product line. The financial boost is seen as a vote of confidence in Rhythm’s R&D efforts and is expected to accelerate the company’s progress in achieving key milestones, potentially enhancing its market position in the cancer diagnostics industry.
More about Rhythm Biosciences Ltd.
Rhythm Biosciences Ltd is an Australian medical diagnostics company focused on developing simple and affordable blood tests for early cancer detection. Founded in 2017 and headquartered in Melbourne, the company aims to improve patient outcomes and reduce the global cancer burden by working with global partners for commercialization and distribution. Its key products include ColoSTAT®, a blood-based test for colorectal cancer detection, and geneType™, a genetic risk assessment platform for multiple diseases.
Average Trading Volume: 269,075
Technical Sentiment Signal: Sell
Current Market Cap: A$16.84M
For a thorough assessment of RHY stock, go to TipRanks’ Stock Analysis page.