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Phosphagenics to add to cash pile

The halt will remain in place until Tuesday 25th September 2017.
The company's shares are in pre-open

Phosphagenics Ltd (ASX:POH) currently has circa $5 million in cash and receivables, and a handy $100 million in tax losses.

The company is focused on its proprietary drug delivery system called TPM® (Targeted Penetration Matrix).

Phosphagenics is now heading to market with a capital raising, and the ASX has granted a trading halt to prepare.

The halt will remain in place until the opening of trade on Tuesday 25th September 2017, or earlier if an announcement is made to the market.

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