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Cellmid in trading halt ahead of potential material contract

Cellmid sells anti-aging products such as for hair growth and generated $3.66 million in revenue in the recent December half.

Cellmid Limited - Cellmid in trading halt ahead of potential material contract
Shares in the company last traded at 9.9 cents per share

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.

Quick facts: Cellmid Limited

Price: 0.185 AUD

ASX:CDY
Market: ASX
Market Cap: $22.33 m
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