ASX or Australian Securities Exchange Ltd is a public company in Australia that operates the primary securities exchange of the Australia. There are many reasons companies decide to list on ASX. AirXpanders (ASX:AXP) decided the move to go public was right for them, in order to raise funds for company expansion and further research.
AirXpanders was founded in 2005 as a medical alternative to aid breast reconstruction. The flagship product of the company, the AeroForm Tissue Expander System is used in patients who are going through 2-stage breast reconstruction along with mastectomy. The headquarters of the company is in Palo Alto, California. The company is committed to providing surgeons as well as patients with high-class products that are made with quality standards and under strict designs. AeroForm is an advanced needle-free and patient-controlled tissue expander that removes the need for expansion visits. It is gradually filled with CO2 (carbon dioxide) that is contained in the expander of the tissue.
The company is listed in ASX to raise funds to be used for a marketing launch of their new product, as well as commercialization of AeroForm in both the United States and Australia. The company has TGA and CE mark approval and the product is available commercially in Australia. It was also recently cleared by the FDA for legal use in the US. AirXpanders is also in the market of designing, manufacturing, selling and distributing tissue expander for the procedures of breast reconstruction after a mastectomy in parts of Europe.
Recently, AirXpanders has been approved a trading halt by the Australian Securities Exchange. The halt will remain in the place until trading is approved to recommence on 25 January 2017. The half may finish earlier if the company or market decide to cut it short.
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