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- ImpediMed (IPD) is gearing up to raise more capital, after placing its shares in a trading halt
- The medical devices manufacturer halted its shares from trade on Monday morning, with securities to resume trading again on Wednesday
- The healthcare stock is expected to release the full details of the fundraise to the market on or before October 27
- IPD revealed earlier this month that its PREVENT Trial, assessing lymphoedema prevention using L-Dex technology, successfully met its primary endpoint
- Company shares last traded on October 22 at 17 cents each
ImpediMed (IPD) is gearing up to raise more capital, after placing its shares in a trading halt.
The medical devices manufacturer halted its shares from trade on Monday morning, with IPD’s securities to resume trading again on Wednesday.
The healthcare stock is expected to release the full details of the fundraise to the market on or before that date.
Earlier this month IPD revealed that its PREVENT Trial, assessing lymphoedema prevention, successfully met its primary endpoint.
The trial demonstrated that intervention in patients with early detection of cancer-related lymphoedema using ImpediMed’s L-Dex technology resulted in a lower rate of progression to chronic disease when compared to patients with early detection from a tape measure.
ImpediMed labelled the result “statistically significant”, noting the results were based on 1200 patients who were followed for up to three years across hospitals in the US and Australia.
Following the results, IPD began preparing submissions for L-DEX to the National Comprehensive Cancer Network clinical practice guidelines as well private medical insurance companies in the US.
While before today, company shares were trading at 17 cents each on Friday, October 22.
