UK's Polarean slumps after flagging cash reserve needs
13/02/2023 11:15
** Shares of Polarean Imaging POLX.L fall 18% to 36.5p
** Stock hits lowest level since Oct. 2021
** Headed for worst day since Oct. 6, 2021
** POLX says it finished 2022 with $16 mln in cash, which is
expected to fund co until May 2024
** Medical imaging technology co says it will need
additional cash resources to achieve commercial targets, pursue
development of products and for advanced R&D
** Co intends to use cash resources to maximise sales of its
drug device combination product XENOVIEW
** Says it will pursue collaborations with partners to fund
future commercial applications of its technology
(Reporting by Muhammed Husain in Bengaluru)
((Muhammed.Husain@thomsonreuters.com;))