Australia's INOVIQ gains on funds to advance cancer research

Inoviq

12/06/2024 03:09

** Shares of INOVIQ  IIQ.AX  rise as much as 23.9% to
A$0.700, set to gain most since June 3, if current gains hold
    ** The cancer therapy co says it has completed placement to
raise A$7 mln ($4.63 mln) to advance research of cancer
therapeutics, among others
    ** Co says funds will also be used for commercialisation of
SubB2M diagnostics - a pan-cancer detection technology
    ** Stock hits its highest level since June 3
    ** About 1.9 mln shares change hands, compared with the
30-day average volume of 230,189
    ** INOVIQ stock down 15% this year, as of last close

    ($1 = 1.5126 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))