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- Cervical cancer company TruScreen (TRU) was up as much as 40 per cent after debuting on the Australian Securities Exchange today
- The debut comes after the company raised NZ$2 million (around A$1.8 million) a successful initial public offering (IPO)
- TruScreen’s technology touches various spots on the cervix to pick up electrical and optical signals from the cervical tissue
- The listing will make the company dual-listed as it is already trading on New Zealand’s Exchange (NZX)
- On market close for the day, TruScreen is up 37.1 per cent and trading at 9.6 cents per share
New Zealand cervical cancer company TruScreen (TRU) was up as much as 40 per cent after debuting on the Australian Securities Exchange today.
TruScreen has a pen-like wand that touches various spots on the cervix to pick up electrical and optical signals from the cervical tissue.
The device provides real-time, accurate detection of pre-cancerous and cancerous cervical cells to help improve the health and well-being of women.
TruScreen says its product is different from the conventional pap tests as no cervical tissue needs to be taken during the test, this means no or very minimal discomfort. Additionally, the product can retrieve results within minutes.
Notably, the company reported that 530,000 women are diagnosed with cervical cancer and more than 270,000 dies from this disease. It is the third most common cancer in women worldwide.
The listing will make the company a dual-listed as it is already trading on New Zealand’s Exchange (NZX).
To list on the ASX, TruScreen raised NZ$2 million (around A$1.8 million) in its initial public offering (IPO). Under the raise, the company issued over 28 million shares at NZ$0.07 (approximately A$0.06).
On market close for the day, TruScreen is up 37.1 per cent and trading at 9.6 cents per share.
