- Biotech company Dimerix (DXB) enters a trading halt while it considers, plans and executes a capital raising
- The company will remain in the halt until August 16 or when more details regarding the raise are released, whichever occurs first
- On August 2, Dimerix announced 167 patients had been recruited into the phase three ACE2 RAS study in patients with COVID-19 pneumonia
- The study is being undertaken as it is anticipated that a significant proportion of the population will still be susceptible to COVID-19 for a number of reasons
- Shares in Dimerix last traded at 23.5 cents on August 11
Biotech company Dimerix (DXB) has entered a trading halt while it considers, plans and executes a capital raising.
The company will remain in the halt until August 16 or when more details regarding the raise are released, whichever occurs first.
Dimerix is yet to disclose how much it intends to raise or what it will use the funds for once received.
On August 2, Dimerix announced 167 patients had been recruited into the phase three ACE2 renin angiotensin system (RAS) study which involves the treatment of DMX-200.
The phase three study is a randomised, standard-of-care study in patients with COVID-19 pneumonia.
The study is being undertaken as it is anticipated that a significant proportion of the population will still be susceptible to COVID-19 because they are resistant to the vaccine, cannot be vaccinated or choose to not be vaccinated.
Taking a look at its June quarter results, Dimerix burnt through $3.24 million with the majority going towards research and development.
The company also invested $4000 in property, plant and equipment.
As of June 30, Dimerix had $5.25 million in total available funding, representing 1.6 quarters of use if spending levels remain the same.
This doesn’t faze the company however, as it is in the process of finalising its FY21 research and development tax incentive.
Shares in Dimerix last traded at 23.5 cents on August 11. The company has a $46.52 million market cap.