Australia's Radiopharm Theranostics jumps on getting strategic investment

Radiopharm Theranostics

20/06/2024 03:39

** Shares of Radiopharm Theranostics Ltd  RAD.AX  rise 13.3%
to A$0.034, their highest since May 20
    ** Radiopharmaceutical products maker enters into strategic
agreements with Lantheus Holdings  LNTH.O  for strategic
investment of up to A$18 million ($12.01 million)
    ** Co says, under agreement, Lantheus subscribed shares
worth A$7.5 million at A$0.05 each, representing a 47% premium
to the last closing price
    ** Adds, net proceeds of the investment will be used for
drug manufacturing, clinical trials and general working capital
    ** Stock down 54.1% YTD, as of last close


($1 = 1.4993 Australian dollars)

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))