Successful completion of retail entitlement offer

Clarity Pharmaceuticals (ASX: $CU6) has successfully completed the fully underwritten Retail Entitlement Offer, raising approximately $10.8 million before costs. This represents the final stage of the fully underwritten Placement and Entitlement Offer, which has raised total gross proceeds of approximately $121 million before costs.

Executive commentary on successful completion

We are very pleased with the continued support from our shareholders, and we thank them for their commitment to Clarity as we continue to build our Company into an Australian life sciences success story. With a strong proprietary position and a portfolio of best-in-class clinical-stage products, we now also have a strong balance sheet of over $150 million that enables us to progress our pipeline in one of the most exciting areas of the pharmaceutical industry, radiopharmaceuticals. We look forward to further updating our shareholders on the continued progress of our therapy and diagnostic programs as we head towards our ultimate goal of better treating children and adults with cancer.

Summary of completion and outlook

Clarity Pharmaceuticals (ASX: $CU6) has successfully completed the fully underwritten Retail Entitlement Offer, raising approximately $10.8 million before costs, as part of the total gross proceeds of approximately $121 million before costs. The funds raised will be used to continue developing the Company's best-in-class portfolio of radiopharmaceuticals and its therapeutic and diagnostic product pipeline. The successful completion of the offer has provided the company with a strong balance sheet of over $150 million, enabling progress in the pharmaceutical industry. Clarity Pharmaceuticals looks forward to updating shareholders on the progress of their therapy and diagnostic programs as they work towards better treating children and adults with cancer.