Clarity Pharmaceuticals (ASX:CU6) is heading towards Monday close up nearly +4% after the clinical-stage radiopharmaceutical company heralded the completion of a blockbuster $203 million institutional placement.
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The health player raised $203M through a placement with a small group of investors already close to the company, Clarity flagged Monday morning.
Shares in the placement were offered out at $4.20 each – a 2.2% premium on last Friday’s price at close and an 18% premium on its volume-weighted average price.
Shareholders clearly liked the capital raise, with the confidence it would give investors and the fact it’s now going to be injected straight into new cancer treatment research, both helping the burgeoning excitement today.
It’s not just traders celebrating, either, with Clarity’s executive chairperson, Dr. Alan Taylor, declaring the cap raise leaves them in a “very strong position.”
“The placement has received phenomenal support, evidenced by the raising of over $200 million at not only a premium to the last closing share price, but a substantial premium to the share price observed for almost the entirety of CY2025,” he said.
“This placement, coupled with significant short- and medium-term deliverables such as the read-outs of the Co-PSMA trial and the Phase Three trials, as well as longer-term activities such as the further development of our therapy programs, are expected to underpin short, medium, and long-term shareholder value growth as we work towards our ultimate goal: Better treating people with cancer.
“We can [now] work to complete a number of high-value-driving clinical trials.”
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Bell Potter helmed the blockbuster capital raise this time around. Clarity had last gone to the cap-raise well in March 2024, when it banked $121 million at a deal that came in at $2.55. Bell worked with Wilsons back then.
CU6 heads into Monday’s close at $4.26 a share after today’s pop.
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