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Highlights
- Radiopharm secured US$5M (AU$8M) through a private share placement with Lantheus Holdings.
- Under the placement,133 million shares issued at AU$0.060 per share, a 150% premium to the last traded price.
- Lantheus becomes Radiopharm’s largest shareholder, holding over 12% of the company.
Radiopharm Theranostics (ASX:RAD; NASDAQ:RADX) experienced a significant surge in its share price during early morning trading on 10 January 2025, rising 50% to AU$0.036 with a trading volume of nearly 48 million shares.
This increase followed the company’s announcement of a subscription agreement for a US$5 million (AU$8 million) private placement to Lantheus Holdings Inc. As a result of this placement, Lantheus, a Massachusetts-based radiopharmaceutical firm has become Radiopharm's largest shareholder, holding a 12.16% ownership stake.
Share Placement Details
The placement involved the issuance of 133 million shares at AU$0.060 per share. The issue price reflects a 150% premium to the last traded price of AU$0.024. The settlement is expected to occur within seven days. This placement replaces the six-month options issued by Radiopharm in August 2024.
The funds raised will be used to advance the development of Radiopharm's clinical pipeline of.
Lantheus CEO Brian Markison emphasised the firm’s commitment to collaborating on the joint development of radiopharmaceutical assets in Australia.
About Lantheus
Headquartered in Massachusetts, Lantheus is a major provider of radiopharmaceutical solutions and has been in operation for over 65 years, with additional offices in Canada and Sweden. The company is dedicated to delivering life-changing science to help clinicians "Find, Fight, and Follow" disease, ultimately improving patient outcomes.
