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The latest announcement is out from Oncopeptides AB ( (SE:ONCO) ).
Oncopeptides AB has launched a rights issue of approximately SEK 200 million to bolster its balance sheet, support the European commercialization of its cancer drug Pepaxti and move its glioblastoma project from preclinical to clinical development. The company expects the proceeds, net of about SEK 25 million in transaction costs, to fund operations until it reaches positive cash flow in 2027, assuming planned sales growth materializes.
The rights issue is largely secured through a mix of subscription and guarantee commitments totaling SEK 190 million, including a SEK 20 million subscription from largest shareholder HealthCap VIII. Shares will be offered at SEK 1.55, about a 34% discount to the theoretical ex-rights price, as Oncopeptides seeks to maintain launch momentum in Europe, advance its pipeline into new indications and underpin ongoing strategic reviews and partnering discussions, notably in Japan and Germany.
The most recent analyst rating on (SE:ONCO) stock is a Hold with a SEK3.00 price target. To see the full list of analyst forecasts on Oncopeptides AB stock, see the SE:ONCO Stock Forecast page.
More about Oncopeptides AB
Oncopeptides AB is a Swedish biotech company specializing in targeted therapies for difficult-to-treat cancers, with a focus on research, development and commercialization in oncology. Founded in 2000, the company is currently active in key European markets including Germany, Austria, Spain, Italy and Greece, where it is rolling out its multiple myeloma drug Pepaxti.
Average Trading Volume: 1,772,794
Technical Sentiment Signal: Sell
Current Market Cap: SEK722.7M
See more data about ONCO stock on TipRanks’ Stock Analysis page.