- Pharmaceutical company Amplia Therapeutics (ATX) enters into a trading halt as it plans an upcoming capital raise
- It is not known how much the company is aiming to raise or where the funds will be spent
- Under the halt, company shares will be paused until Monday, November 8, or when more details about the raise is released to the market, whichever one comes first
- The company has also announced it has amended its licence agreement for FAK asset AMP886 until December 31, 2023
- On the market, Amplia last traded at 19.5 cents per share
Amplia Therapeutics (ATX) has entered into a trading halt as it plans an upcoming capital raise.
Currently, it is unknown how much the company is aiming to raise or where the funds will be spent.
Under the halt, company shares will be paused until Monday, November 8, or when more details about the raise are released to the market, whichever one comes first.
Amplia is an Australian pharmaceutical company and is currently advancing its focal adhesion kinase (FAK) inhibitors for cancer and fibrosis.
Additionally, the company has also announced it has amended its licence agreement for FAK asset AMP886 until December 31, 2023.
In the initial agreement, signed in March 2018 with Cancer Research UK, the company agreed to file an investigational new drug application (IND) or initiate a phase one clinical trial of AMP886 within three years.
In March 2021, Cancer Research UK agreed to extend the term allowed for initiation of these activities, subject to further negotiations with the company.
Now, the parties have agreed to extend the deadline for filing an IND or commence the phase one trial.
Amplia’s CEO, John Lambert, is pleased to be able to obtain this extension from Cancer Research UK.
“The additional time that has been made available will allow us to undertake further preclinical studies with this promising molecule which has a unique activity profile, and identify therapeutic indications for which it is best suited before we initiate formal development,” Dr Lambert said.
“Meanwhile, our efforts to push AMP945 onward into phase two trials are proceeding in earnest.”
On the market, Amplia last traded at 19.5 cents per share.