PYC Therapeutics to Raise Up to A$653m to Advance Four Genetic Disease Drugs

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

PYC Therapeutics has launched a major equity raising of up to A$653 million to advance four high-potential genetic disease drug candidates through key human efficacy milestones. The capital will be raised via a A$128 million placement to leading US specialist life sciences investors and a A$525 million accelerated non-renounceable entitlement offer to existing shareholders, both priced at A$1.50 per share, modestly discounted to the last traded price and theoretical ex-rights price. With binding commitments already secured for about A$560 million, the transaction is expected to fund the company into calendar year 2030 and support the progression of PYC-003 for polycystic kidney disease, PYC-002 for Phelan-McDermid syndrome, VP-001 for retinitis pigmentosa type 11 and PYC-001 for autosomal dominant optic atrophy into or towards registrational trials and clinical proof-of-concept read-outs, potentially transforming the company’s clinical profile and strengthening its position in the rare disease therapeutics 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 ASX-listed precision medicine company focused on developing disease-modifying therapies for patients with severe genetic diseases that currently lack treatment options. Its pipeline includes drug candidates targeting polycystic kidney disease, Phelan-McDermid syndrome, retinitis pigmentosa type 11 and autosomal dominant optic atrophy, positioning the company within the high-growth rare disease and genetic therapeutics market.

Average Trading Volume: 477,141

Technical Sentiment Signal: Buy

Current Market Cap: A$933.2M

See more data about PYC stock on TipRanks’ Stock Analysis page.