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PYC Therapeutics Limited ( (AU:PYC) ) has provided an announcement.
PYC Therapeutics has closed the institutional placement and institutional component of its pro-rata accelerated non-renounceable entitlement offer, securing commitments of A$537 million at A$1.50 per new share from leading US specialist life sciences investors and Australian institutional investors. With an existing A$200 million underwriting agreement from major shareholders now activated following the capital raised so far, the company is assured of raising a minimum of A$600 million once the retail entitlement offer is completed, extending its cash runway through to calendar year 2030 and funding key clinical milestones, including human safety and efficacy data readouts for all four of its drug candidates, thereby strengthening its balance sheet and strategic positioning in the precision genetic medicine sector.
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 an Australia- and US-based precision medicine company focused on developing treatments for patients with severe genetic diseases that currently have no therapeutic options. Listed on the ASX under the ticker PYC, the company is advancing four drug development programs and targets long-term value creation through delivering human safety and efficacy data across its pipeline.
Average Trading Volume: 483,789
Technical Sentiment Signal: Buy
Current Market Cap: A$933.2M
For a thorough assessment of PYC stock, go to TipRanks’ Stock Analysis page.