- Pregnancy monitoring solutions HeraMed (HMD) has entered a trading halt as it plans an upcoming capital raise
- So far, it is unknown how much the company is aiming to raise and where the funds will be spent
- Company shares will be paused until Thursday, February 4, or when more details about the raise are released to the market
- For the December quarter, the company burnt through $868,000 in operating activities and had $1.9 million in the bank at the end of the period
- HeraMed last traded for 9.9 cents per share on February 1
HeraMed (HMD) has entered a trading halt as it plans an upcoming capital raise.
It is unknown how much the company is aiming to raise and where the funds will be spent.
Under the halt, company shares will be paused until Thursday, February 4, or until more details about the raise will be released to the market, whichever comes first.
HeraMed is an Israeli company that develops pregnancy monitoring solutions for home and professional use.
In December, the company announced a second clinical trial for its at-home maternity care technology, HeraBEAT.
This follows the “outstanding” results from its first trial in Western Australia.
Over the December quarter, the company burnt through $868,000 in operating activities, with a majority of these funds going towards staff costs.
At the end of the period, HeraMed had $1.9 million in the bank.
HeraMed last traded for 9.9 cents per share on February 1.