Advanced Oncotherapy PLC has provided an update on its financing discussions and financial position. The company has been working on a recapitalization plan with a third-party investor, with discussions making progress since February 1, 2024. The investor has re-confirmed their commitment to the proposed financing transaction, which is expected to be around $15 million, with the initial tranche of funding anticipated to be received by the end of March 2024. However, there are no guarantees regarding the funding or its timing.

The company is also in advanced discussions with a third-party investor for a short-term loan facility to provide additional short-term bridge financing while the proposed financing transaction progresses. The board of the company remains hopeful of a satisfactory outcome, but there is no certainty that the proposed financing transaction will proceed or that the short-term loan facility will be put in place. Without access to the additional capital proposed by the investor, the company may face insolvency and be placed into administration.

As of the date of the announcement, the company has negligible cash resources and significant debt levels. The company's shares remain suspended from trading on AIM, and further announcements will be made at the appropriate time.

Advanced Oncotherapy Plc, a UK-based company, is a provider of particle therapy with protons and is focused on the development of a proprietary proton accelerator called Linac Image Guided Hadron Technology (LIGHT). The company aims to offer healthcare providers affordable systems that enable the treatment of cancer with innovative technology and lower treatment-related side effects.