Atrium Therapeutics rallies after $50 mln equity raise

Atrium Therapeutics

08/10/2026 12:55

** Heart drug developer Atrium Therapeutics RNA.O shares rising 11.3% to $8.83 before the bell on Thurs after securing $50 mln raise
** Biopharma firm says it agreed to sell ~6.3 mln shares and pre-funded warrants at $7.93 in private placement to institutional investors
** RNA shares finished down 0.8% at $7.93 on Weds, and had slumped ~44% over the past month
** Co intends to use net proceeds to fund development of its two lead product candidates, other research programs, among other purposes
** It estimates the proceeds, along with existing cash and investments, will fund its operations through 2028
** Leerink acted as lead placement agent, joined by Cantor Fitzgerald, Barclays and Wells Fargo
** San Diego, California-based Atrium, which has collaboration agreements with Bristol-Myers Squibb BMY.N and Eli Lilly LLY.N, has ~17.1 mln shares outstanding
** Atrium began trading publicly on Feb 27 after it was spun out of Avidity Biosciences, which was acquired by Swiss drugmaker Novartis NOVN.S

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))