Sernova (TSE:SVA) has released an update.
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Sernova Corp., a clinical-stage biotech company, has canceled its public offering due to unfavorable market conditions, believing that the current market does not reflect the company’s value. CEO Cynthia Pussinen states that they are looking for more favorable financing options while remaining focused on advancing their Cell Pouch System™ technology, which has shown promise in a Phase I/II study for treating insulin-dependent diabetes.
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