Imugene in trading halt with capital raising news pending

Imugene Ltd has been granted a trading halt by the ASX ahead of an announcement regarding a proposed capital raising. The halt will remain in place until the start of regular trading on Thursday, July 29, or until an announcement is released to the market, whichever occurs earliest. Shares last traded at A$0.33 while the company’s market cap is approximately A$1.647 billion. Series of clinical trials The clinical-stage immuno-oncology company has capped off the June quarter with A$29.5 million in the bank as it prepares to advance a series of clinical trials in FY22’s first quarter. Highest dose cohort has been reached in the first-in-human phase one study of PD1-Vaxx, one of its two B-cell immunotherapies. This was outlined in a presentation on the HER-Vaxx and CF33 CHECKVacc therapy candidates at an annual symposium run by the American Association for Cancer Research (AACR). In its quarterly update, Imugene also updated the market on its financial performance, with A$3.6 million spent on research and development activities over the June quarter. It brings the total amount spent on research and development activities over FY21 to just over A$15.6 million.