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Avacta Group plc ( (GB:AVCT) ) has provided an announcement.
Avacta Group PLC has issued over six million new ordinary shares to settle a portion of its unsecured convertible bond, reducing the bond’s principal by £2.55 million. This strategic move aligns with the company’s efforts to become a pure play biotechnology firm, focusing on drug development while exploring financing options such as divesting its Diagnostics Division and potentially pursuing a NASDAQ dual listing.
More about Avacta Group plc
Avacta Therapeutics is a clinical-stage life sciences company specializing in targeted oncology drugs. Utilizing their proprietary pre|CISION® platform, they focus on developing cancer therapies that are highly potent and tumor-specific, offering advantages over traditional treatments.
YTD Price Performance: 2.00%
Average Trading Volume: 1,541,666
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £186.6M
Find detailed analytics on AVCT stock on TipRanks’ Stock Analysis page.
