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IN BRIEF: Advanced Oncotherapy in talks over possible cash injection

Mon, 23rd Oct 2023 18:51

Advanced Oncotherapy PLC - London-based provider of proton therapy for cancer treatment - Updates on financing discussions and current financial position. Signs non-binding term sheet with a third-party investor. Investor is expected to provide funding of up to USD80 million to meet the company's cashflow requirements through to the European certification of the LIGHT System. Notes the treatment of first patients with LIGHT is now targeted for 2024 with certification of the LIGHT System to follow thereafter. Anticipates the financing to be a mixture of equity and debt financing.

Company also says talks on bridge financing are ongoing and has raised GBP200,000 via a short-term four-month unsecured loan agreement with a new investor, and raised GBP150,000 from an existing investor under its secured convertible loan note agreement.

Current stock price: suspended at 1.75 pence

12-month change: down sharply from 1,925p

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

More News

30 Dec 2022 14:33

IN BRIEF: Advanced Oncotherapy non-exec director buys 500,000 shares

Advanced Oncotherapy PLC - London-based particle therapy for cancer treatment - Non-Executive Director Michael Bradfield buys 500,000 shares at 13.17 pence, worth GBP65,825, on Thursday. Now has 8.4 million shares, a 1.6% stake.

28 Nov 2022 15:45

Advanced Oncotherapy study delivers lower radiation for proton therapy

(Alliance News) - Advanced Oncotherapy PLC on Monday said that a recently-completed study has shown the potential superiority of its proton therapy in treating breast cancer patients.

6 Oct 2022 20:10

TRADING UPDATES: ImmuPharma loss narrows; MetalNRG loss widens

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

27 Sep 2022 22:07

TRADING UPDATES: Goldstone Resources hails results; PCF moves deadline

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

19 Aug 2022 11:48

Advanced Oncotherapy raises another £1.47m as it advances 'LIGHT' system

(Sharecast News) - Proton therapy developer Advanced Oncotherapy announced it was raising £1.47m through a direct subscription on Friday, to fund its corporate activities as it moves its 'LIGHT' system towards full operation.

19 Aug 2022 09:18

Advanced Oncotherapy shares rise on GBP1.5 million fundraise

(Alliance News) - Shares in Advanced Oncotherapy PLC jumped on Friday following its announcement of a GBP1.5 million equity fundraise.

3 Aug 2022 21:21

IN BRIEF: Advanced Oncotherapy raises GBP550,691 for working capital

Advanced Oncotherapy PLC - London-based provider of proton therapy for cancer treatment - Raises GBP550,691 through direct subscription of 2.2 million shares at a price of 25 pence per share.

30 Jun 2022 12:11

EARNINGS UPDATES: Accsys profit up, Dolphin Capital loss narrows

(Alliance News) - The following is a round-up of earnings reports by London-listed companies, issued on Thursday and not separately reported by Alliance News:

28 Jun 2022 20:09

IN BRIEF: Advanced Oncotherapy raises GBP6.0 million in subscription

Advanced Oncotherapy PLC - London-based provider of proton therapy for cancer treatment - Raises GBP6.0 million before expenses in subscription for 24.1 million shares at 25 pence each. The issue price was a premium of 19% to the closing middle market price of a share on Monday. Notes Odey Asset Management LLP subscribed for GBP4.5 million in shares, on behalf of some of its funds.

26 Apr 2022 20:36

IN BRIEF: Advanced Oncotherapy system optimised to sub-millimetre size

Advanced Oncotherapy PLC - London-based provider of proton therapy for cancer treatment - Says it has made "significant" progress with the commissioning of the Light system. This includes Light system beam being optimised to a sub-millimetre size, with a beam current of about 50 microamperes; and 20 of the 21 accelerating modules have been radio-frequency conditioned.

25 Mar 2022 18:51

Latest Share Chat

AVO.L Share News (AVO)

IN BRIEF: Advanced Oncotherapy in talks over possible cash injection

IN BRIEF: Advanced Oncotherapy non-exec director buys 500,000 shares

Advanced Oncotherapy study delivers lower radiation for proton therapy

TRADING UPDATES: ImmuPharma loss narrows; MetalNRG loss widens

TRADING UPDATES: Goldstone Resources hails results; PCF moves deadline

Advanced Oncotherapy raises another £1.47m as it advances 'LIGHT' system

Advanced Oncotherapy shares rise on GBP1.5 million fundraise

IN BRIEF: Advanced Oncotherapy raises GBP550,691 for working capital

EARNINGS UPDATES: Accsys profit up, Dolphin Capital loss narrows

IN BRIEF: Advanced Oncotherapy raises GBP6.0 million in subscription

IN BRIEF: Advanced Oncotherapy system optimised to sub-millimetre size

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Advanced Oncotherapy raises £2m for proton therapy development

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