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Rhinomed Limited to update on first stage of global pharmacy distribution

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Rhinomed Limited (ASX:RNO) has been granted an ASX trading halt in relation to the first stage in global pharmacy distribution.

The halt will last until the earlier of the announcement being made or the start of trade on Friday, 21st August 2015.

In the June 2015 Quarter, the company reported receipts from customers of $192,000, an increase of $33,000 from the previous quarter due to growing demand for its Turbine sports breathing device.

Sales in FY2016 are expected to increase due to expanded global distribution of Turbine. It has also received early demand for its Mute snoring and sleep technology.

Rhinomed had $1.37 million in cash as at 30th June 2015.

 

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Quick facts: Rhinomed Ltd

Price: 0.076 AUD

ASX:RNO
Market: ASX
Market Cap: $12.86 m
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