Biotech blooms as capital raisings surpass $1 3 billion afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
Paul Hopperâs biotech Imugene hunts $85m
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Itâs a big day for Bell Potter.
The financial advisory firm is tapping institutional investors for $80 million in funding for immuno-oncology company Imugene, with the bulk of the capital set to go to three or four cornerstone investors.
The offer is priced at 30¢ per share, representing a 9.1 per cent discount to its previous close.
Biotech entrepreneur Paul Hopper is the chairman of Imugene.Â
Louie Douvis
Already one cornerstone investor has taken up a $30 million chunk of the raise and interest is expected to be high given the company is poised to enter the ASX300 in September and is hopeful of making the ASX200 in December.
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Huon auction hit with further delay, brokers dish up other options afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
“In other words, moving towards increasing the number of exports of powdered milk to China.”
The August update from the company will feature the latest daigou numbers, which investors will be hoping will carry on the momentum.
2022 revenue projections
Investors already know the 2021 numbers won’t be great. This is already baked into the share price.
But the more interesting numbers for investors to look out for on 18 August would be the guidance for the current fiscal year.
In the 2020 financial year, the dairy producer racked up $1.6 billion in revenue.
“While not without near-term risks as supply chains stabilise, at its core we see A2M as a business that, once (margin) is consolidated, has baseline revenue of NZ$1.4 billion to $1.5 billion and EBITDA of NZ$300m,” he said in a memo to clients.