Diaceutics (DXRX)

Sector:

Health Care

Index:

FTSE AIM All-Share

107.00p
   
  • Change Today:
      3.00p
  • 52 Week High: 109.00
  • 52 Week Low: 80.50
  • Currency: UK Pounds
  • Shares Issued: 84.68m
  • Volume: 89,685
  • Market Cap: £90.61m
  • RiskGrade: 196

Diaceutics raising £20.5m ahead of launch of new platform

By Josh White

Date: Thursday 11 Jun 2020

LONDON (ShareCast) - (Sharecast News) - Diagnostics commercialisation company Diaceutics has conditionally raised £20.5m before expenses, through a placing of 14,137,931 new shares at 145p each to existing and new investors in two tranches, it announced on Thursday.
The AIM-traded firm said the placing price represented 1.4% premium to the closing bid price of 143p per share on 10 June.

It said the proceeds would strengthen its balance sheet in readiness for new growth opportunities, explaining that "rapid" market growth would require additional resources.

The company was planning to integrate new data insights beyond oncology, saying it was on track to launch the 'DXRX' diagnostic network digital platform in the fourth quarter.

It explained that DXRX could capture more of the diagnostic commercialisation value chain, through the development of new data and service modules.

Completion of the firm placing and the admission of firm placing Shares would occur on 16 June, while completion of the conditional placing and admission of the conditional placing shares would happen on 30 June.

The firm placing would use the firm;s existing authorities to allot shares and disapply pre-emption rights, as granted at its recent annual general meeting, while the conditional placing would be subject to the approval of shareholders.

"The placing was oversubscribed underpinning the level of support available for our strategy of strengthening the balance sheet and providing the resource for taking advantage of future opportunities not currently visible," said the company's chair, Julie Goonewardene.

"Our clients in the pharmaceutical industry are facing many challenges with their traditional sales and marketing approaches due to the Covid-19 pandemic.

"There is emerging evidence that the digital transformation of many operations will become a feature of their commercial operations in the future."

Goonewardene said the new DXRX platform was on track for launch later in the year, and would provide access to a diagnostic network to launch and commercialise new precision tests that were in development, or about to be introduced.

"In taking this additional funding we not only strengthen our balance sheet but also ensure that we can, if required, dramatically increase resources around the new DXRX platform in response to any additional demand from our clients.

"With this platform on track for launch later this year, I am incredibly excited by the opportunities we have to create significant long-term value for all our stakeholders."

At 1149 BST, shares in Diaceutics were up 4% at 156p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Diaceutics Market Data

Currency UK Pounds
Share Price 107.00p
Change Today 3.00p
% Change 2.88 %
52 Week High 109.00
52 Week Low 80.50
Volume 89,685
Shares Issued 84.68m
Market Cap £90.61m
RiskGrade 196

Diaceutics Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
90.87% below the market average90.87% below the market average90.87% below the market average90.87% below the market average90.87% below the market average
81.25% below the sector average81.25% below the sector average81.25% below the sector average81.25% below the sector average81.25% below the sector average
Price Trend
45.03% above the market average45.03% above the market average45.03% above the market average45.03% above the market average45.03% above the market average
56.76% above the sector average56.76% above the sector average56.76% above the sector average56.76% above the sector average56.76% above the sector average
Income Not Available
Growth
2.91% above the market average2.91% above the market average2.91% above the market average2.91% above the market average2.91% above the market average
16.67% above the sector average16.67% above the sector average16.67% above the sector average16.67% above the sector average16.67% above the sector average

Diaceutics Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 457 @ 107.00p
16:35 457 @ 107.00p
13:37 18,918 @ 104.50p
14:00 82 @ 104.00p
14:00 82 @ 104.00p

Diaceutics Key Personnel

CEO Ryan Gerard Keeling
CFO Nick Roberts

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