Australia's Radiopharm Theranostics slumps on discounted placement

Radiopharm Theranostics

20/10/2025 04:47

** Shares of Australia's Radiopharm Theranostics RAD.AX fall as much as 24.3% to A$0.028, their lowest since September 30

** Clinical-stage radiotherapeutics firm says it received firm commitments for a A$35 million ($22.77 million) fundraise via institutional placement at an issue price of A$0.03 per share

** Placement price represents 18.9% discount to co's last close

** RAD also launches A$5 million share purchase plan open to investors at A$0.03 per share

** Proceeds will be used to fund drug manufacturing and clinical trials, co says

** In a separate announcement, co provides positive clinical updates across four programs

** Around 21.2 mln shares change hands, nearly 4.2x 30-day average

** RAD up 16.7% YTD

($1 = 1.5370 Australian dollars)

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))