Advanced Oncotherapy, a UK-based developer of therapy systems for cancer treatment, has announced that it will not meet the September 30 deadline for publishing its first half 2023 results. This is due to the fact that the company has yet to publish its 2022 results. Advanced Oncotherapy’s shares have been suspended since late June while awaiting publication of its 2022 accounts and clarification of its financial position.
The company has stated that it urgently requires additional financing in order to continue its operations. As a result, it has been in talks with investors to secure the necessary funding. While discussions on bridge financing are at an advanced stage, no agreements have been reached and no funds have been received from investors as of the date of the announcement.
Advanced Oncotherapy is actively working on its recapitalization plan and continues to seek further funding, including bridge financing to alleviate its immediate financial needs. The company is hopeful that it will be able to secure the necessary funding and continue its operations as a going concern.
The delay in publishing financial results and the uncertainty surrounding Advanced Oncotherapy’s financial position have raised concerns among investors and shareholders. The suspension of the company’s shares has further added to the uncertainty surrounding its future.
Investors will be closely monitoring the situation and waiting for more information regarding Advanced Oncotherapy’s financial position and its plans for future funding. The company’s ability to secure the necessary financing will be crucial in determining its ability to continue its operations and advance its therapy systems for cancer treatment.
It remains to be seen how the ongoing talks with investors will progress and whether Advanced Oncotherapy will be able to secure the funding it urgently requires. In the meantime, stakeholders will be eagerly awaiting updates from the company regarding its financial position and plans for the future.
As the situation continues to develop, it is important for investors to exercise caution and closely monitor any updates or announcements from Advanced Oncotherapy. The company’s ability to secure funding and resolve its financial challenges will have a significant impact on its future prospects and the potential for its therapy systems to make a positive impact on cancer treatment.