Somnomed Limited (AU:SOM) has released an update.
SomnoMed Limited has reported a Q3 FY24 revenue of $22.5 million, marking an 11% increase from the previous year despite production constraints. The company reconfirmed its annual guidance, with revenue growth projected at 6-9%, and announced a recent capital raise of $22.6 million to pay off debt, invest in manufacturing capacity, and fund a cost reduction program. Investors showed strong support in the latest entitlement offer, with the company now treating over 885,000 patients worldwide.
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