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Cellmid Limited Is A Stock On The Move

Cellmid Limited (ASX:CDY) has been one of the star performing ASX bio-techs in recent months, and this is in a sector that as a whole has been positively re-rated.

Based on the last sale price of $0.04, shares are up over 80% in the past six weeks.

Propelling the share price was an upgraded revenue guidance earlier in the month to $2 million for financial year 2015.

This was driven by increased sales of its consumer health products in Australia and Japan.

Highlighting this momentum, half of this revenue was made during the last quarter of FY2015.

With a solid foundation in place, FY2016 sales have the potential to significantly exceed FY2015 sales.

Strong leadership

The revenue ramp-up has all been achieved under the leadership of CEO and managing director, Maria Halasz, who joined Cellmid seven years ago.

Halasz led the acquisition of the company's current portfolio of midkine and FGF5 inhibitor assets.

Capital raising

Cellmid is now heading to market with a capital raising, and the ASX has granted the company a trading halt to prepare.

The halt will remain in place until the opening of trade on Thursday 30th July 2015, or earlier if an announcement is made to the market.

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