Radiopharm Theranostics (ASX: RAD) raises AU$2.1M via entitlement offer

December 08, 2023 04:07 PM AEDT | By Sonal Goyal

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Radiopharm Theranostics (ASX: RAD) raises AU$2.1M via entitlement offer — Image source: Pixabay.com

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Highlights

RAD has raised around AU$2.1 million by closing an entitlement offer.

Under the offer, more than 30.197 million new shares have been issued.

The shares allotted are likely to commence trading on ASX on 11 December 2023.

Radiopharm Theranostics Limited (ASX: RAD) has concluded the entitlement offer announced on 31 October 2023. The company has received valid applications for over 30.197 million shares to raise nearly AU$2.1 million.

The shares under the offer will be issued and allotted today (8 December 2023), and these shares are expected to start trading on the ASX on 11 December 2023.

Data source: Company update

The funds raised will be used to advance the four clinical trials of the company towards the achievement of several inflection points. The four clinical trial comprises-

RAD 301 Imagining Phase 1 read out
RAD 101 Imaging Phase llb recruitment
RAD 204 Phase 1 Therapeutic recruitment
RAD 202 Phase 1 Therapeutic recruitment

RAD shares traded at AU$0.071 apiece at the time of writing on 8 December 2023.

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