Financing ·
Raises A$18.5M via placement and SPP, reports A$7.5M cash balance
RADXRadiopharm Theranostics Ltd
Radiopharm Theranostics completed an A$12.5 million institutional placement and a A$3 million Share Purchase Plan to fund its pipeline and Phase 3 readiness for RAD101. The company reported closing cash of $7.5 million, up from $4.1 million in the prior quarter, after burning $10.7 million in operating expenses driven by R&D costs. It also received an A$5.9 million R&D tax refund and a subsequent A$8 million advance against anticipated future refunds. The clinical-stage biopharmaceutical company develops radiopharmaceuticals for oncology diagnostics and therapies.