Sign up Australia
Proactive Investors - Run By Investors For Investors

Cellmid granted ASX trading halt prior to capital raising news

The halt will remain in place until the start of normal trading on Tuesday, 31 July, or when the announcement is released.
ASX logo on a laptop
The life sciences company is expanding its distribution

Cellmid Limited (ASX:CDY) has been granted an ASX trading halt before releasing details of a proposed capital raising.

The securities will remain in a trading halt until the earlier of the start of normal trading on Tuesday, 31 July, or when the announcement is released to the market.

Cellmid was 46 cents at the close of trade on Thursday.

READ: Cellmid lays out major plan for product and distribution expansion

The life sciences company plans to expand distribution of products in the US and Japan as well as increase its product range in Australia.

This is expected to result in an increase in revenue in the 2019 financial year.

Cellmid’s évolis products are specifically formulated anti-ageing hair solutions, which include shampoos, conditioners, sprays and activators.

US in-store placement

For the first time évolis Professional products will be sold permanently in Neiman Marcus and Bloomingdales stores from September 2018.

The first Neiman Marcus stores designated for the full range of the évolis Professional products are Ala Moana (Hawaii), Fashion Island (California), Orlando (Florida), Northpark (Texas) and Houston (Texas).

These are flagship stores with well-trained sales associates and loyal customers.

Bloomingdales’ flagship store in New York will also carry the full évolis Professional range with other stores expected to come online in the next six months.

Launch in Japan

Cellmid aims to launch the évolis branded FGF5 inhibitor anti-ageing hair products in Japan.

The évolis Professional range was scheduled to be launched this month while the évolis Pharmacy will be launched in October.

This is the first time that the Australian manufactured products will be exported to Japan and it follows a period of extensive product testing on Japanese customers assessing both beauty and therapeutic applications.

The évolis Professional range will be progressively introduced to suitable Australian pharmacies from this month.

This will increase the number of products sold from four to 15 within the brand in these pharmacies.

View full CDY profile View Profile

Cellmid Ltd Timeline

Related Articles

DNA sequence
July 12 2018
The cell therapy specialist also reported there had been industry interest around its main programmes
Collagen testing
August 17 2018
Since reporting its full-year results on July 10, the AIM-listed shares have rallied over 38% in the past month to 3.65p currently, taking year-to-date gains to a third
surgeons working
September 03 2018
Chief executive Steve Couldwell also told investors the regenerative medicines specialist had identified a number of potential new commercial opportunities it was “actively pursuing”

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use