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17,093.50
(3.05%)
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39,023.71
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38,797.51
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FTSE 100
7,747.81
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USD/AUD
0.6617
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71,640.19
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78.00
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Gold
2,163.90
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46.11
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Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Hang Seng
17,093.50
(3.05%)
Dow Jones
39,023.71
(0.66%)
Nikkei 225
38,797.51
(-0.06%)
FTSE 100
7,747.81
(1.02%)
USD/AUD
0.6617
(-0.2%)
Bitcoin
71,640.19
(-1.56%)
Oil
78.00
(0.57%)
Gold
2,163.90
(-0.1%)
Lithium
46.11
(4.37%)
Iron Ore
109.15
(1.77%)
Oncosil Set to Raise $7.1 Million to Expand Commercial Activities
- Author: Stock Piper
Oncosil Medical Limited (ASX: OSL) is an Australian-listed medical device company that is focused on localised treatments for patients with pancreatic cancer and liver cancer. Its medical device is equipped with targeted radioactive isotopes (Phosphorous-32) and is implanted directly into the patient’s pancreatic tumours in a treatment known as brachytherapy, to deliver concentrated and localised radiation without destroying or harming surrounding tissue.Â
OncoSil Ltd Taps Markets to Expand Commercialisation Abroad
OncoSil has committed to raising $1.48 million before costs from professional investors at an issue price of $0.005 (0.5 cents) per new share and the maximum number of New Shares issued under the offers (subject to rounding) stands at 1, 129, 413, 846 while the Maximum number of Shares on the issue following the offers are estimated at 3, 399, 954, 978 shares. The exercise price per new option is estimated at 3 cents for long-dated options and 0.9 cents for short-dated options. The maximum number of New Options to be issued under the Offers (subject to rounding) is 712,706,923 long-dated options and 1,425,413,846 short-dated options.ÂHow will the funds be used?
The company expects to raise $7.1 million which will be used to invest in a range of projects destined to boost commercialization and revenue growth. Below, we illustrate how the company plans to spend the expected $7.1 million that will be realised. Commercialisation: The OncoSil device is increasingly used across hospitals and the device is present in over 35 countries across the world. As such, the company must invest in both sales and marketing to accelerate accreditation from regulatory bodies for the OncoSil device. OncoSil has submitted additional information to the FDA in the United States to ensure it can be fully approved and marketed by mid-2024. This requires additional capital This is expected to average $1.8 for the placement funds and a maximum amount of $3 million Costs of Clinical Trials and Expansion with FOLFIRINOX: Clinical trial expenditure to expand the use of the OncoSil device in combination with FOLFIRINOX chemotherapy and other trials. This will expand the range of treatments for OncoSil and ensure that revenue growth persists as the company continues to implant itself in over 35 countries. Clinical trials, if successful, can bring about long-term revenue growth and increase their competitiveness over the long run. Manufacturing and Supply Chain Optimisation: Completion of the next milestone and validation of the Macquarie Park, NSW. This is necessary to ensure that OncoSil can manufacture, market, sell, and train doctors to use its device. While full control of the supply chain is expensive, it will improve the predictability of supply and allow greater control over the price of the final product. Furthermore, due to the proprietary nature of this technology, it is important to maintain control over the intellectual property to ensure they maintain their position as market competitors with an affordable and target General Working Capital and Capital Raising Costs: General day-to-day running and the cost for raising the funds are estimated at $1.5 million if the target is met and $1.8 million for the maximum amount. Working capital will ensure staff wages and other necessary costs are met during this period.ÂImpact of change in ASX Market price
The market price of the company shares on ASX may change between today and when the capital is raised. If there is a decrease in that market price, this will result in a corresponding proportionate decrease in the market value of Shares issued to the Applicant. If there is an increase in that market price, this will result in a corresponding proportionate increase in the market value of Shares issued to the Applicant. However, any increase or decrease in market value will not alter the issue price per New Share, nor the number of New Shares to be issued, under the Retail Offer.Dividend RightsÂ
There is no guarantee of any dividends or distributions by the Company by the Corporation's Act, the Listing Rules, the rights of any preference Shareholders, and the rights of the holders of any shares created or raised under any special arrangement as to dividend. However, the Directors expect to pay dividends to investors if they decide that the company is making a profit. This is good news for a company whose expansion will ensure revenues continue to rise, allowing investors to benefit from a dividend. Oncosil is one of the leading biotech providers of treatments for pancreatic cancer and its decision to raise $7.1 million will enable it to ramp up control trials and approvals, manufacturing and ensure that OncoSil is adopted across a number of countries at a faster pace.ASX News, First
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