PYC Therapeutics launches major entitlement offer and placement to fund RNA therapy programs

An announcement from PYC Therapeutics Limited ( (AU:PYC) ) is now available.

PYC Therapeutics is launching a sizeable equity raising through a pro-rata accelerated non-renounceable entitlement offer, with eligible shareholders invited to subscribe for three new shares for every five held at A$1.50, to raise up to about A$525 million before costs. In parallel, it is conducting a placement to U.S. specialist life sciences investors targeting a further A$128 million, reinforcing its capital base for ongoing RNA therapy programs while confirming that certain retail shareholders are ineligible to participate in the retail component of the offer.

The most recent analyst rating on (AU:PYC) stock is a Hold with a A$1.50 price target. To see the full list of analyst forecasts on PYC Therapeutics Limited stock, see the AU:PYC Stock Forecast page.

More about PYC Therapeutics Limited

PYC Therapeutics Limited is a clinical-stage biotechnology company developing a new generation of RNA therapies for patients with genetic diseases. The company leverages a proprietary drug delivery platform to increase the potency of precision medicines, focusing on monogenic diseases, which are considered to have a higher likelihood of clinical development success.

Average Trading Volume: 686,170

Technical Sentiment Signal: Buy

Current Market Cap: A$1.4B

For detailed information about PYC stock, go to TipRanks’ Stock Analysis page.