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Noxopharm Ltd debuts on ASX; supported by solid trading volumes

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Noxopharm Ltd (ASX:NOX), an Australian biotech company, listed on the ASX today after raising $6 million in an over-subscribed IPO.

The clinic-ready company is focused on commencing the first human clinical trial for its drug, NOX66.

The purpose of NOX66 is to eliminate the ability of a cancer cell to develop and maintain its drug-resistance mechanisms, something that leads to many cancer patients eventually running out of treatment options.

Graham Kelly, CEO, held various senior roles for nearly 20 years at Novogen, a $1+ billion company. Novogen attempted to develop an anti-cancer drug targeting a similar market.

At 3:00PM Sydney time, over 5 million Noxopharm shares had been traded on the ASX.

Shares issued under the IPO were priced at $0.20 and shares have traded between $0.18 and $0.20 today.

 

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Quick facts: Noxopharm Ltd

Price: 0.4 AUD

ASX:NOX
Market: ASX
Market Cap: $85.3 m
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