An ASX-listed clinical-stage biotech has raised $180 million through a placement and entitlement offer to fund Phase III trials of its lead oncology candidate through to data readout.
The raise was covered largely by existing institutional holders, with the company's shares little changed on the news, a sign investors had broadly anticipated the capital need.
“Getting fully funded through to Phase III data removes the single biggest overhang on this stock,” one healthcare-focused fund manager said.
Results from the trial are expected in the second half of 2027.