Immuron Announces New Securities Issue to Boost R&D Funding
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Immuron Limited announced a proposed issue of 8,495,080 ordinary securities at AUD 0.07560 each to fund R&D and working capital. The shares will be sold to US investors via H.C. Wainwright & Co. This move aims to enhance financial resources for R&D initiatives. Currently, analysts rate IMRN stock as a Sell with a $1.50 price target, citing poor financial performance and a bearish trend. Immuron focuses on developing oral immunotherapeutics for gut-mediated diseases, with a market cap of $13.67M.
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