Join our daily newsletter At The Bell to receive exclusive market insights
- Pharmaceutical company Acrux (ACR) has entered a trading halt while it plans a capital raise
- Currently, there are no given details about the raise and company shares will be paused until Monday, December 21, unless details are released earlier
- In October, Acrux signed a sales, marketing and distribution agreement with U.S.-based Dash Pharmaceuticals, to commercialise a product in its pipeline
- On the market, Acrux last traded at 18.5 cents per share on December 16
Acrux (ACR) has entered a trading halt as it plans a capital raise.
So far, how much the company is aiming to raise and where the funds will be spent is not yet known.
Company shares will be paused until Monday, December 21, or whenever more information is released to the market.
Acrux is a pharmaceutical company that aims to develop and commercialise topical pharmaceutical products.
In October, Acrux signed a sales, marketing and distribution agreement with Dash Pharmaceuticals in the United States for a product in its pipeline.
Under the deal, Dash will be responsible for the commercialisation of the product.
“This represents another licensing agreement for Acrux with a highly experienced generic company in the United States,” CEO and Managing Director Michael Kotsanis said in October.
“Acrux looks forward to commercialising this product through Dash and bringing affordable products to patients,” he added.
Dash is looking forward to launching its first product with Acrux but says there is a number of barriers to enter the U.S., such as the Food and Drug Administration approval.
On the market, Acrux last traded at 18.5 cents per share on December 16.
