Successful completion of capital raising

Clarity Pharmaceuticals (ASX: $CU6) has successfully completed a $101 million placement to institutional investors and the institutional component of the approximately $20 million pro rata accelerated non-renounceable entitlement offer to existing eligible Clarity shareholders in Australia and New Zealand. The offer price per new fully paid ordinary share in Clarity to be issued under the offer is $2.55 per new share.

Executive commentary on capital raising

Dr Alan Taylor, Executive Chairperson of Clarity Pharmaceuticals, expressed his satisfaction with the response to the capital raising, thanking both existing and new shareholders for their support. The strengthened balance sheet of over $150 million positions the company well to progress all products through their respective clinical trials. This capital raising marks a significant milestone for the company, allowing it to maximize its value and continue making strides in the radiopharmaceutical industry.

Summary of completion and outlook

Clarity Pharmaceuticals (ASX: $CU6) has successfully completed a capital raising, raising $110 million to advance its clinical portfolio and strengthen its balance sheet. The company is now well-positioned to progress its products through clinical trials and maximize its value in the radiopharmaceutical industry. With the Retail Entitlement Offer expected to raise up to a further $11 million, Clarity Pharmaceuticals is set to continue its mission of developing next-generation products to improve treatment outcomes for cancer patients.