Sienna Cancer Diagnostics (ASX:SDX) $4.2 million raising

Company News

by Katrina Bullock

Sienna Cancer Diagnostics (ASX:SDX) is set to raise $4.2 million before costs via a share placement and rights issue at 3.5 cents per share.

This issue price represents a 20 per cent discount to the 30-day volume weighted average price as at 25 November 2019.

Funds will be used to accelerate commercialisation of SIEN NET, the company’s cancer capture and detection technology.

The funds will also be used to fund co-development expenditure for the company’s collaborative agreements with Minomic International and VivaZome Therapeutics.

Shares in Sienna Cancer Diagnostics (ASX:SDX) are trading 12.9 per cent higher at 4 cents.

Katrina Bullock

Finance News Network
Katrina joined FNN in 2018. She holds a Bachelor of Laws (Honours first class), a Bachelor of Business (Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She previously worked as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel for Greenpeace Australia Pacific.