After having provided an update with regards to its participation at a key industry event last week, Telo Genomics Corp (TSXV:TELO) came into sharp focus among investors on Monday and its stock made a strong upward move.
The Telo stock ended the day with gains of 6% but at the same time, it should be noted that there was no fresh news about the company yesterday. In this situation, it could be a good idea to take a closer look at some of the updates provided by the company last week from its participation at the Multiple Myeloma Workshop event that was held in Vienna in Austria. At the event, the company provided a snapshot of the sort of progress that it managed to make in its clinical studies. The clinical studies in question are being conducted in collaboration with Mayo Clinic.
The company noted that at the event its representatives participated in meetings with important lead investigators from many myeloma clinician groups based out of Portugal, France, Spain, and the United States.
Telo went on to add that the meetings in question proved to be highly productive for the company since those meetings were focused on the possibility of future collaborations on certain clinical studies that the company is currently involved with. While the updates about the activities at the event were important, it is perhaps also necessary to keep in mind that the company also provided an update with regards to its ongoing operations.
Telo announced at the time that it has been successful in completing the first myeloma samples batch and the same had been received by the Mayo Clinic earlier on in the year. Those who are interested in the Telo stock could also do well to keep in mind development from earlier on in the year in July. Back on July 5, the company had announced that it had been successful in closing the second and last tranche of the non-brokered private placement that it had announced previously.
It should also be noted that Telo issued an extra 390,000 units for the placement and managed to raise a total of as much as $195,000. The offering had actually been oversubscribed but it should be remembered that in total Telo managed to raise $2,287,750 from the two tranches of offerings. It might be the right time to add the stock to your watch lists as well.