- Medical Developments International (MVP) has entered a trading halt regarding an upcoming capital raising
- The company will remain in the halt until December 14 or when an announcement is released, whichever occurs first
- Earlier in the month, MVP announced it is preparing to take back the distribution rights for its Penthrox drug from Mundipharma
- In October, MVP revealed it had taken back the distribution rights for Penthrox after both companies reviewed their arrangements on a market by market basis
- MVP is now in the process of establishing an EU-based legal and corporate structure, and securing importation and logistics capabilities
- Shares in MVP last traded at $7.10 on December 8
Medical Developments International (MVP) has entered a trading halt regarding an upcoming capital raising.
The company will remain in the halt until December 14 or when an announcement is released, whichever occurs first.
MVP is yet to disclose how much it is aiming to raise or what it will use the funds for.
Earlier in the month, MVP announced it is preparing to take back the distribution rights for its Penthrox drug from Mundipharma.
In October, MVP revealed it had taken back the distribution rights for Penthrox after both companies reviewed their arrangements on a market by market basis.
With the partnership ending, MVP is in the process of establishing an EU-based legal and corporate structure, and securing operational in-market importation and logistics capabilities.
Penthrox is a rapid onset, non-narcotic painkiller that is inhaled by conscious patients, under the supervisions of trained personnel, who are in pain or about to be operated on.
Since the patients control it themselves, they can control the amount of painkiller they receive.
Shares in MVP last traded at $7.10 on December 8.