MARKETS SPECTATOR: Novogen's risk and reward

Risk appetite is alive and well for Novogen investors if the drug maker's successful share sale is anything to go by.

Who says Australians aren’t risk takers? Venture capitalists and the entrepreneurs often bemoan the risk appetite local banks and investors have for innovative ideas. Anti-cancer drug developer Novogen is bucking that perception. It is seeking to raise as much as $6.12 million after earlier this month successfully selling $2.5 million of shares to fund managers.

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