- Amplia Therapeutics (ATX) has completed a private placement and is set to raise roughly $3.8 million
- More than 16.5 million new shares will be issued to institutional and sophisticated investors at 23 cents
- This price represents a 10 per cent discount to the 15-day volume-weighted average price
- Amplia will use the funds to enable activities in its phase two clinical trials in pancreatic cancer and lung disease
- These activities include drug manufacturing, toxicology studies and planning and lodging regulatory documents
- Shares in Amplia are down 8.77 per cent and are trading at 26 cents
Amplia Therapeutics (ATX) has completed a private placement and is set to raise roughly $3.8 million.
The company entered a trading halt on April 30 but did not disclose how much it intended to raise or what it would use the funds for.
All up, 16,585,000 new shares will be issued to institutional and sophisticated investors at 23 cents.
This price represents a 10 per cent discount to the 15-day volume-weighted average price.
The placement was strongly supported by Amplia’s largest shareholders, Platinum Investment Management and Blueflag Holdings.
Additionally, a new shareholder, Acorn Capital, also participated.
Amplia will use the funds to enable activities in its phase two clinical trials in pancreatic cancer and pulmonary fibrosis (lung disease).
These activities include drug manufacturing, toxicology studies and planning and lodging regulatory documents.
“Over the last year, Amplia has put in place the necessary foundations for our planned phase two clinical program for AMP945,” CEO Dr John Lambert said.
“Specifically, the recent completion of dosing in our phase one trial of AMP945, together with the exciting results we have seen in our parallel non-clinical studies, have provided the clinical safety data and preclinical rationale needed for us to push forward into phase two clinical studies,” he added.
Shares in Amplia are down 8.77 per cent and are trading at 26 cents at 2:06 pm AEST.