Cancer biotech Adlai Nortye jumps after $150 mln equity financing

Adlai Nortye

16/04/2026 13:06

** Shares of cancer therapy developer Adlai Nortye Ltd ANL.O jump 16.1% premarket to $15.38 after announcing $150 mln private placement equity financing

** Clinical-stage biotech early Thurs says sold ~11.3 mln American depositary shares at $13.25, matching their last sale on Weds

** Transaction includes participation from new investors such as Soleus Capital and Perceptive Advisors, and from existing investors like Cormorant Asset Management, Columbia Threadneedle and Balyasny Asset Management, per the statement

** Adlai has regional headquarters in North Brunswick, New Jersey, and Hangzhou, China

** Leerink, Cantor Fitzgerald, Lucid Capital Markets, H.C. Wainwright and Jones Trading joint agents for the private placement

** ANL shares fell 15.5% on Weds, leaving them up 833% YTD

** 1 analyst rates the shares "strong buy", the other 2 rate "buy" and PTs are $16, $23 and $46, per LSEG data

** Adlai went public in 2023 IPO priced at $23

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))