Advanced Oncotherapy shares fall as testing progresses

24th Aug 2015 12:12

(ShareCast News) - Advanced Oncotherapy said two of its modules were ready for high power testing.The AIM listed proton therapy cancer treatment developer's shares fell by 3.33% to 7.25p by 1208 BST. Two of its Coupled Cavity Linac modules are now ready for high-power testing at the company's facility in Geneva."Ensuring that the CCL units were ready for high-power testing was a key milestone in the Company's timetable provided to shareholders in November 2014, and this marks another successful stage in the process of delivering the first working LIGHT system," Advanced Oncotherapy said.Westhouse Securities said in a note growing awareness of proton therapy as a treatment for cancer should ensure strong demand for Advanced Oncotherapy's LIGHT system.Analyst Robert Sanders said Monday's news showed the company was on track to have its treatment on track for 2017.Westhouse held a 'buy' recommendation and its 25p target price.