All eyes are on BARD1 Life Sciences’ halted shares.
The post Here’s why the BARD1 (ASX:BD1) share price is frozen today appeared first on The Motley Fool Australia. –
Trading of its shares will be halted until it either releases an announcement or the ASX opens on Friday morning.
The BARD1 Life Science share price finished yesterday’s session trading at $1.80.
The company is focused on creating non-invasive methods to detect early stage cancers.
Let’s take a closer look at today’s news of BARD1 Life Science.
Trading halt ahead of capital raise
The BARD1 Life Sciences share price is halted as it prepares to announce a $10 million placement and a $2 million share purchase plan. The share purchase plan is open to eligible retail investors.
The placement will see shares in BARD1 going for $1.55 apiece. That’s a 13.88% discount on its previous closing price.
The company is currently working on autoantibody tests that have been proven to detect some early-stage cancers.
Also in BARD1’s pipeline are tests for early stage lung cancer.
Today’s news is the first time the market has heard of a capital raise by BARD1 since June 2019.
Back then, the company raised $7.5 million to put towards its growth strategy.
BARD1 Life Sciences share price snapshot
2021 has been a good year so far for the BARD1 Life Sciences share price.
Right now, it’s 172% higher than it was at the start of the year. It has also gained 114% since this time last year.
The company has a market capitalisation of around $144 million, with approximately 80 million shares outstanding.
Should you invest $1,000 in BARD1 Life Sciences right now?
Before you consider BARD1 Life Sciences, you’ll want to hear this.
Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and BARD1 Life Sciences wasn’t one of them.
The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.
*Returns as of May 24th 2021
Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.