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PYC Therapeutics Launches $146 Million Entitlement Offer

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PYC Therapeutics Launches $146 Million Entitlement Offer

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PYC Therapeutics Limited ( (AU:PYC) ) has provided an update.

PYC Therapeutics Limited announced a pro-rata accelerated non-renounceable entitlement offer to raise capital through the issuance of new shares. The offer, which consists of both institutional and retail components, aims to raise a total of approximately $146 million before costs. This capital raising initiative is expected to strengthen the company’s financial position as it continues to advance its drug development programs.

More about PYC Therapeutics Limited

PYC Therapeutics is a clinical-stage biotechnology company focused on developing RNA therapies for patients with genetic diseases. The company uses a proprietary drug delivery platform to enhance the potency of precision medicines, specifically targeting monogenic diseases.

YTD Price Performance: -4.96%

Average Trading Volume: 428,521

Technical Sentiment Consensus Rating: Sell

Current Market Cap: A$726.2M

Find detailed analytics on PYC stock on TipRanks’ Stock Analysis page.

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