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Polarean Imaging – “delighted to announce today's successful placing and subscription”. Er, what about the more than 70% discount?!

By Steve Moore | Wednesday 22 May 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Previously writing on Polarean Imaging (POLX), in September with the shares down to 11.5p and it emphasising it having “successfully developed the first and only hyperpolarised MRI contrast agent to be approved in the United States”, I warned it’s the balance sheet which soon needed to be revolutionised and, considering the funding environment and a down to below £25 million market cap, it was good luck with such fundraising! Natch, avoid/sell. The shares most recently closed at 3.7p and now CEO Christopher von Jako is “delighted to announce today's successful placing and subscription of $10 million”. Er, why are the shares currently at 1.3p then, a further 65% down?!

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