RCE is in a trading halt pending the release of details on a capital raising.
They are currently well cashed due to financing, so I am surprised the raise has come now, I was expecting one in 6-12 months but I suppose it's safer to do it now and they may have a lead investor ready to go. Will review details when available.
Also, an announcement to "Clarification - Phase I/II UTI/Urosepsis Rapid Infusion Clinical Trial of RECCE® 327" was released. I am not sure why the clarification was needed given it covers information previously disclosed in earlier announcements, but agree that it provides a clearer picture and a great summary of where things are at regarding their rapid infusion clinical trial of R327.
Disc: I own RL+SM
US DoD US$2m Grant (15/7/24)
Confirmation today of the awarding of the US Department of Defence grant of US$2m (A$3m) for further clinical development of R327G (topical application of R327 for burns). It was announced on 8 April 2024 that the US DoD had recommended the Grant, which has now been awarded.
Also included in the announcement was the scoring of the US DoD shown below and some commentary. We don’t have any comparative scoring to gage difficulty but the fact it was an “Outstanding” result indicates R327G did very well and provides some additional independent support to it’s likely effectiveness and commercial value in awarding US$2m to support.
Note also that the SPP offer is out now and open until 31 July at a $0.45 price which it remains above since the announcement of the capital raise.
Disc: I own RL+SM