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Inoviq Ltd ( (AU:IIQ) ) has issued an announcement.
INOVIQ Limited has successfully raised A$9.5 million through a placement to institutional and sophisticated investors, with an additional A$2 million targeted through a share purchase plan (SPP). The funds will accelerate the clinical validation and commercialization of the EXO-OC™ ovarian cancer test and the preclinical development of a therapeutic program for solid tumors. Tian An Medicare Limited, a Hong Kong-listed company, has committed A$5 million as a cornerstone investor, highlighting the strategic importance of INOVIQ’s test in improving women’s health outcomes. The investment will also facilitate the test’s commercialization in China, leveraging Tian An Medicare’s extensive healthcare network. This capital raising is expected to enhance INOVIQ’s market position and achieve key milestones for stakeholders.
The most recent analyst rating on (AU:IIQ) stock is a Hold with a A$0.50 price target. To see the full list of analyst forecasts on Inoviq Ltd stock, see the AU:IIQ Stock Forecast page.
More about Inoviq Ltd
INOVIQ Limited operates in the healthcare industry, focusing on the development of innovative diagnostic and therapeutic products. The company is primarily engaged in creating tests for cancer detection, with a significant emphasis on ovarian cancer diagnostics through its EXO-OC™ test. INOVIQ aims to improve health outcomes by advancing early detection and intervention methods, positioning itself as a key player in cancer diagnostics.
Average Trading Volume: 101,669
Technical Sentiment Signal: Sell
Current Market Cap: A$46.33M
For detailed information about IIQ stock, go to TipRanks’ Stock Analysis page.