- All Ordinaries lister Starpharma (SPL) has locked up its shares at the start of a new week
- The trading halt, granted by the ASX this morning, will give the healthcare stock time to make a capital raise announcement
- Not many details have been released yet, but the company has stated it’ll undertake an institutional placement and a share purchase plan
- Ultimately, shareholders should find out more on or before Wednesday, September 30, when the trading halt lifts
- Starpharma was in the news on Friday when Australia’s Therapeutic Goods Administration (TGA) approved a claim expansion for the company’s flagship Bacterial Vaginosis (BV) treatment
- Significantly, this means VivaGel is the only over-the-counter product for treating and preventing recurring BV in Australia
- Starpharma shares last traded for $1.61 on Friday, September 25
All Ordinaries lister Starpharma (SPL) has locked up its shares at the start of a new week.
The trading halt, granted by the ASX this morning, will give the healthcare stock time to make a capital raise announcement.
Not many details have been released yet, but the company has stated it’ll undertake an institutional placement and a share purchase plan.
However, just what Starpharma will use the funding for — as well as how much it wants to raise — remains unclear.
Ultimately, shareholders should find out more on or before Wednesday, September 30, when the trading halt lifts.
TGA approval
Starpharma was in the news on Friday when Australia’s Therapeutic Goods Administration (TGA) approved a claim expansion for the company’s flagship treatment.
The bacterial vaginosis (BV) formulation, known as VivaGel BV, has now been approved to prevent recurring forms of the condition.
Crucially, the green light brings Starpharma’s claims in Australia up to speed with its existing authorisations in Europe and Asia.
It also means VivaGel is the only over-the-counter product for treating and preventing recurring BV in Australia.
For Starpharma, this approval is significant. Bacterial Vaginosis is the most common vaginal condition globally — it’s also twice as common as thrush.
One in three women will be diagnosed with BV in their lifetime, while 40 to 50 per cent of those cases will recur within three to six months.
Broadly speaking, Starpharma wants to make its proprietary BV treatment available all over the world. It’s already sold in over 40 countries and has approval in major continents like Europe and Asia.
As a result, this latest funding foray could support the company as it continues to develop and expand VivaGel’s commercialisation.
Starpharma shares last traded for $1.61 on Friday, September 25.