Advanced Oncotherapy Faces Delays in Publishing Financial Results and Securing Financing
Advanced Oncotherapy, a U.K.-based cancer treatment developer, faces delays in publishing financial results and securing financing. Urgent need for additional funding.
Troy D. Hanson
September 29, 2023
By Joe Hoppe
Advanced Oncotherapy, a U.K.-based developer of therapy systems for cancer treatment, has announced that it will not meet the deadline for publishing its first half 2023 results. The delay is due to the fact that the company has yet to publish its 2022 results and is currently engaged in talks with investors.
Shares of Advanced Oncotherapy have been suspended since late June, pending the publication of its 2022 accounts and clarification of its financial position. The company has stated that it urgently requires additional financing to sustain its operations.
In response to this urgent need, Advanced Oncotherapy has been in discussions with several investors to secure bridge financing. This would provide immediate relief to its current financial needs.
While the company has made progress in its talks for bridge financing, no agreements have been reached with investors and no funds have been received as of the date of this announcement.
Advanced Oncotherapy remains committed to working on its recapitalization plan and securing further funding. This includes continuing efforts to obtain bridge financing, which would alleviate its immediate financing requirements.
It is important for Advanced Oncotherapy to publish its financial results and secure the necessary financing in order to maintain operations and fulfill its mission of developing therapy systems for cancer treatment.