- Imugene (IMU) enters a trading halt ahead of a capital raise to facilitate investment from two new institutional investors
- Trading of IMU shares will be paused until Wednesday, September 14, by which time the company should have released further details
- Whilst it is not yet known where the funds will be directed, IMU recently flagged its plans to open up additional study sites in the US and Australia for its HER-Vaxx clinical trials
- However, it has 10 other product candidates in its clinical pipeline which may also benefit from the capital raise
- Shares in the company last traded at 22.5 cents each on September 9
Imugene (IMU) has entered a trading halt ahead of a capital raise to facilitate investment from two new institutional investors.
Trading of IMU shares will be paused until Wednesday, September 14, by which time the company should have released further details.
Whilst it is not yet known where the funds will be directed, the company recently flagged its plans to open up additional study sites in the US and Australia for its HER-Vaxx clinical trials.
Last week, the company dosed its first patient in the nextHERIZON phase two clinical trial, which aims to study HER-Vaxx in combination with other cancer treatments for gastric cancer.
Its main goal of the study was to measure safety and response rate.
Whilst this may be the possible direction of funds, Imugene has 10 other product candidates in its clinical pipeline which may also benefit from the capital raise.
Shares in the company last traded at 22.5 cents each on September 9.