Fusion Pharma rises on acquiring prostate cancer candidate

Fusion Pharmaceuticals

14/02/2023 11:31

** Shares of radiopharmaceutical-focused biotech company
Fusion Pharmaceuticals Inc  FUSN.O  up 14.6% at $4.15 before the
bell
    ** Co to acquire from RadioMedix Inc, drug candidate
targeting certain types of prostate cancers
    ** Following the closing, the alpha-emitting drug candidate
will be known as FPI-2265 
    ** Co plans to expand the mid-stage program to additional
sites, expects to report data on 20 to 30 patients in Q1 2024
    ** Co plans to raise gross proceeds of $60 mln by private
placement of 17.6 mln common shares, to use in the acquisition
of the drug
    ** Stock has fallen 56% in last 12 months
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))