- OncoSil Medical (OSL) places its shares in a trading halt pending the release of a capital raising announcement
- The medical technology company’s shares will remain in the halt until the earlier of April 29 or when the announcement is released to the market
- In mid-April, OncoSil reported the first commercial treatment of pancreatic cancer regarding its flagship device in Europe
- The OncoSil device implants a pre-determined dose of beta radiation directly into the cancerous tissue via endoscopic ultrasound guidance
- Shares in OncoSil last traded at 6.1 cents on April 26
OncoSil Medical (OSL) has placed its shares in a trading halt pending the release of a capital raising announcement.
The medical technology company’s shares will remain in the halt until the earlier of April 29 or when the announcement is released to the market.
OncoSil is yet to disclose how much it intends to raise or what it will use the funds for once received.
In mid-April, OncoSil reported the first commercial treatment of pancreatic cancer regarding its flagship OncoSil device in Europe.
The procedure was performed at the Hospital Universitario de Fuenlabrada in Madrid, Spain.
CEO and Managing Director Nigel Lange said this is an “important milestone” with plans underway to work with other hospitals to maximise treatment.
The company’s namesake device is a brachytherapy (cancer treatment) device that implants a pre-determined dose of beta radiation directly into the cancerous tissue via injection under endoscopic ultrasound guidance.
The ultrasound then uses high-frequency sound waves to produce detailed images of the lining and walls of specific organs, with the beta particles travelling a short distance to the tissue causing the damage.
The procedure helps locate the cancerous cells and then chemotherapy destroys them.
Shares in OncoSil last traded at 6.1 cents on April 26. The company has a $48.33 million market cap.