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The latest update is out from Percheron Therapeutics ( (AU:PER) ).
Percheron Therapeutics has raised $2.2 million before costs through a fully subscribed 2-for-5 non-renounceable entitlement offer and associated shortfall placement, issuing new shares and options to existing and new investors. The capital injection, supported strongly by both shareholders and third-party investors, is expected to leave the company well-funded to advance its HMBD-002 cancer program towards a planned phase II trial in 2026.
The proceeds will support ongoing clinical development, with Percheron set to present phase I HMBD-002 data at the American Association for Cancer Research meeting and new preclinical data from a QIMR Berghofer collaboration at the American Society of Clinical Oncology conference. These upcoming scientific presentations, combined with the strengthened balance sheet, are likely to enhance the company’s visibility in the oncology community and could be pivotal for future partnering and funding discussions.
More about Percheron Therapeutics
Percheron Therapeutics Limited is an Australia-based biotechnology company focused on developing oncology therapies, with its lead asset HMBD-002 progressing through early-stage clinical development. The company is listed on the ASX, FSE and US OTC markets, reflecting an investor base spanning Australian and international capital markets.
Technical Sentiment Signal: Sell
Current Market Cap: A$7.61M
See more insights into PER stock on TipRanks’ Stock Analysis page.