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  • Cellmid In Halt Pending Proposed Acquisition 0 comments
    May 5, 2013 8:18 PM

    Cellmid (ASX:CDY) is in a trading halt pending a market release on a proposed acquisition and shares will not trade until 8 May 2013 or when an announcement is made, which ever is earlier.

    Cellmid has seen steady revenue growth, receiving A$48,000 via the sale of its hair loss products in the third quarter of fiscal year 2013 as well as a $100,000 payment from Japan's Fujikura Kasei (TYO:4620).

    The latter was for 50% of consideration for an Option Agreement to licence Cellmid's midkine cancer diagnostic assets for Japan.

    Cellmid also recently received over $2 million in proceeds generated from a private placement, which took the company's cash in hand to $3.2 million at the end of March 2013.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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