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Imugene Limited ( (AU:IMU) ) has shared an announcement.
Imugene Limited has secured A$20 million through the issuance of senior, unsecured, zero-coupon convertible notes to CVI Investments, Inc. as part of a larger A$46 million capital-raising initiative. The funds will be used to advance Imugene’s clinical trial pipeline, including its azer-cel, onCARlytics, and VAXINIA programs. This financial influx will provide the company with significant flexibility, as the notes come with a five-year maturity and potential for conversion to ordinary shares at a premium, positioning Imugene well to achieve its commercial and clinical milestones.
More about Imugene Limited
Imugene Limited is a clinical-stage immuno-oncology company focused on developing novel immunotherapies that activate the immune system to treat and eliminate tumors. The company is advancing a platform of technologies, including an allogeneic CAR T cell therapy targeting blood cancers and multiple B-cell vaccine candidates designed to treat various cancers in combination with standard and emerging therapies. Imugene aims to transform cancer treatment with support from a team of international cancer experts.
YTD Price Performance: 8.33%
Average Trading Volume: 163,879
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $177.7M
For a thorough assessment of IMU stock, go to TipRanks’ Stock Analysis page.
