AUS
NZ
UK
CA
USA
IND
The companyâs new KT009 development program is well defined and aims within three years for a clinical study. Medigard foresees further capital raisings to fund KT009 program. The company envisages raising capital in the near term as Medigard has limited cash on hand and a convertible note obligation. The finalisation of the convertible note is presently under discussion.
The company is considering a range of alternatives at this stage. In the near term the company will need to raise further capital and further capital in tranches to fund the KT009 Development Program and corporate costs. Through some combination of placement under the existing capacity funds can be raised to issue further shares, a share purchase plan or further placements subject to shareholder approval.
To raise around $800,000 placement under the existing capacity would enable Medigard, depending upon the then present share price and the actual discount offered. Well supported by shareholders Medigard conducted a SPP in December 2017. A further share purchase plan would enable existing shareholders to purchase shares at a discount, with the KT009 program in hand, to the then present share price and participate in a capital raising.
Estimated to be at around $15 million if the program is taken into larger Phase II trials with GMP KT009 activities for further stages of the KT009 program will require further funding. With experience in the Life Sciences/Biotechnology sectors the company is seeking to engage with a Share Broker and the recent positive view on the KT009 program is likely to support this endeavour. However, at this time it should be stressed that no fund activities have been initiated so far at this time.
Medigard Limited (ASX:MGZ) traded at a market price of $0.020 after falling as much as -28.571% on December 11, 2018 after major selling in the health care sector, the stock is trading near its 52-week low. However, the stock has seen a performance change of 7.69% over the past twelve months.
Disclaimer
This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.
