- Actinogen Medical (ACW) has placed its shares in a trading halt as it flags a future capital raise
- At this stage, the healthcare stock isn’t ready to announce the details, but shareholders should find out more by October 15, the last day of the halt
- Actinogen ended FY20 with a $5.3 million loss after tax, a 46 per cent reduction on the previous year’s loss
- The company also made $3.6 million in revenue during FY20, but burnt through close to $2.9 million on operating activities
- Since the beginning of FY21, the company has appointed a new CFO to lead the financial arm of the business
- Before today’s trading halt, Actinogen shares were trading for 2.8 cents
Biotechnology company Actinogen Medical (ACW) has placed its shares in a trading halt as it flags a future capital raise.
At this stage, the healthcare stock isn’t ready to announce the details of the raise, but shareholders should find out more on Thursday, October 15 — the last day of the trading halt.
Looking at the company’s finances, Actinogen ended the 2020 financial year with a $5.3 million loss after tax, a 46 per cent reduction on the previous year’s loss of $9.8 million.
ACW also made $3.6 million in revenue during FY20, but burnt through around $2.9 million on operating activities during the same period, with the majority of the funds being spent on research and development.
Actinogen ended the previous financial year with just over $5 million in the bank, down from $7.6 million at the end of FY19.
In the meantime, since the end of FY20, the biotechnology company has appointed a new CFO to oversee its finances. Jeff Carter took on the role in September.
Before today’s trading halt came into effect, Actinogen Medical shares were trading for 2.8 cents each on October 12.