Imugene (ASX: IMU) has been granted a trading halt by the ASX pending an announcement concerning a potential acquisition, with the company placed in pre-open.
While no further details were released, Imugene said in its recent quarterly report it continued to review new business opportunities to add value to its existing assets.
Imugene is pursuing one particular opportunity and is currently negotiating terms.
Earlier this year the company took a step back from the development of its poultry vaccines following a review of its activities.
As a result of the review, Imugene plans to focus on the components of its technology that have strong commercial prospects, in particular its pig vaccines.
The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Thursday 3 May.
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