- Medical technology company Osteopore (OSX) has entered a trading halt ahead of a capital raising
- So far, the company has not revealed any details about the raise
- Company shares will be paused until Friday, August 21, or until Osteopore releases more details about the capital raise
- In its latest quarterly report, OSX posted S$348,000 (approximately A$354,000) in revenue over the second quarter of 2020 — a 58 per cent increase over the 2019’s Q2
- At the end of the quarter, Osteopore had $2.28 million in cash on hand
- Osteopore last traded for 61 cents per share on August 18
Medical technology company Osteopore (OSX) has entered a trading halt ahead of a capital raising.
So far, it is unknown how much the company is aiming to raise and what the funds will be used for. For now, company shares will be paused until Friday, August 21, or until OSX releases more details about the capital raise.
Osteopore specialises in 3D printed bioresorbable implants, which are used in surgical procedures to support the natural stages of bone healing.
In July, the company signed an exclusive option to licence a 3D printed modular bone implant technology, which is currently being developed at the Queensland University of Technology.
The new technology complements Osteopore’s current bone-regenerating products.
In its latest quarterly report, OSX posted S$348,000 (approximately A$354,000) in revenue over the second quarter of 2020 — a 58 per cent increase over the 2019’s Q2. Surprisingly, the quarter saw sales growth in Osteopore’s core Asian markets, despite the COVID-19 pandemic.
At the end of the quarter, Osteopore had $2.28 million in cash on hand.
Company shares last traded for 61 cents per share on August 18.