Imagion Biosystems has released its Appendix 4E and Preliminary Results for the Full Year ended 31 December 2019.
- Successful completion of a GLP-compliant toxicology study demonstrating the MagSenseTMimaging agent safety profile
- Received Breakthrough Device designation from the US FDA for MagSenseTM for the detectionand staging of HER2 breast cancer
- Demonstrated MagSenseTM targeted nanoparticles may have commercial utility with existing MRIscanners
- Executed cost management steps to preserve capital and focus resources on planning for firstclinical study; net operating cash outflow reduced to $4.2 million (down from $6.6 million)
- Cash receipts up to $559K with a further $2 million in non-dilutive cash from R&D tax credit in Q3
- Successful $3.6 million Renounceable Rights Issue in Q4, strengthening balance sheet andproviding funds for continued development of the MagSenseTM imaging agent
- Net loss after tax $3.5M, 60% improvement vs 2018 ($8.8M)
- Cash balance of $3.4M at 31 December 2019
Download Appendix 4E and Full Year Results.