OncoSil Raises $2m in Fully Subscribed Entitlement Offer to Fund Cancer Device Expansion

OncoSil Medical Ltd ( (AU:OSL) ) has shared an announcement.

OncoSil Medical has completed a fully subscribed non-renounceable entitlement offer, raising about $2 million including the underwritten portion, to support clinical trials, manufacturing, sales and marketing, market access initiatives and working capital. Around 6% of eligible shareholders participated, with the shortfall taken up by underwriter Bell Potter Securities, and the new shares and options—exercisable at $0.90 and expiring 30 June 2027—are set to trade on the ASX, bolstering the company’s funding base as it advances commercialisation of its pancreatic cancer device.

The entitlement offer issued one new share for every 6.4 existing shares at $0.68, plus one option per new share, resulting in 2,951,918 new shares and an equal number of options. Valid shareholder applications, including top-up bids, accounted for 2,040,217 shares, with the remaining 911,701 allocated to the underwriter, strengthening OncoSil’s capital structure as it seeks to expand its footprint in key oncology markets.

The most recent analyst rating on (AU:OSL) stock is a Hold with a A$0.55 price target. To see the full list of analyst forecasts on OncoSil Medical Ltd stock, see the AU:OSL Stock Forecast page.

More about OncoSil Medical Ltd

OncoSil Medical is an Australian-listed medical device company focused on interventional oncology, developing targeted radiation therapies for cancer. Its lead product, the OncoSil device, delivers phosphorous-32 microparticles directly into unresectable locally advanced pancreatic tumours, offering higher local radiation doses while limiting exposure to surrounding organs.

Average Trading Volume: 61,650

Technical Sentiment Signal: Sell

Current Market Cap: A$13.22M

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