Financial Update 2H17
July 17 2017 - 8:33PM
Prima BioMed Ltd (ASX:PRR) (NASDAQ:PBMD) would like to update
shareholders on its current financial status subsequent to the
closing of the recent U.S. capital raise and yesterday’s
announcement of the expected 2nd milestone payment from Novartis.
Cash balance as at 30 June 2017 was AU$12.3
million. The additional proceeds received in July from the U.S.
capital raise to accredited and institutional investors of
approximately US$5.0 million (equivalent to approximately AU$6.5
million) together with the expected milestone payment from Novartis
of US$1.0 million (equivalent to approximately AU$1.3 million) has
extended the operational cash reach well into the last quarter of
calendar year 2018, based on current management forecasts.
About Prima BioMed
Prima BioMed is listed on the Australian Stock
Exchange, and on the NASDAQ in the US. For further information
please visit www.primabiomed.com.au
For further information please contact:
U.S. Investors:
Matthew Beck, The Trout Group LLC
+1 (646) 378-2933; mbeck@troutgroup.com
Australian Investors/Media:
Mr Matthew Gregorowski, Citadel-MAGNUS
+61 (0) 422 534 755; mgregorowski@citadelmagnus.com
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