Imagion Biosystems Ltd. (AU:IBX) has released an update.
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Imagion Biosystems, a company focused on early cancer detection, is facing financial difficulties with suspended trading due to not filing audited financials, despite cost-cutting measures like reducing staff and halting nanoparticle manufacturing. The firm’s future hinges on finding financial solutions, with a current cash balance of AU$94k and no further nanoparticle manufacturing capability. If no strategic partnerships or acquisitions emerge, Imagion may cease operations.
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