Cellmid Ltd (ASX:CDY) has been granted a trading halt by the ASX pending the outcome of ongoing negotiations in relation to a potential material contract.
Shares in the company will remain halted until the earlier of either the release of relevant information or the commencement of trading next Tuesday 24 March 2020.
Growing consumer health segment by increasing distribution channels
Cellmid is a life sciences company with a consumer health business and biotech assets in development.
Through subsidiary Advangen, Cellmid sells clinically validated anti-aging products for hair, skin and body including a range of FGF5 inhibitor hair growth products that are sold in Australia, Japan, the US and China.
Revenue from the consumer health segment increased to $3.66 million in the recent December half, 5.5% higher than the prior December half.