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MGC Pharmaceuticals in trading halt ahead of material new financing facility news

The halt will remain in place until the start of trading on Thursday, September 10, or when an announcement is released to the market

MGC Pharmaceuticals Ltd - MGC Pharmaceuticals in trading halt ahead of a material new financing facility news
The company recently released positive interim results from a Phase II clinical trial on COVID-19 infected patients

MGC Pharmaceuticals Ltd (ASX:MXC) has an announcement pending in relation to a material new financing facility and has been granted a trading halt by the ASX.

The securities will remain in a trading halt until the earlier of the start of normal trading on Thursday, September 10, 2020, or when an announcement is released to the market.

ArtemiC Phase II trial

The company recently released positive interim results from a Phase II clinical trial on COVID-19 infected patients.

The Phase II double-blind, placebo-controlled clinical trial met all the primary objectives with all 10 patients in the treatment group showing significant improvement.

These results are a key step towards commercialisation and the next Phase IIb trials for which MGC Pharma has started designing protocols and parameters.

Quick facts: MGC Pharmaceuticals Ltd

Price: 0.022 AUD

ASX:MXC
Market: ASX
Market Cap: $36.1 m
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