Radiopharm Strengthens Ties with Lantheus Through $5 Million Investment

Radiopharm Theranostics Limited ( (AU:RAD) ) has issued an update.

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Radiopharm Theranostics Limited announced a private placement of ordinary shares to Lantheus Holdings Inc., raising US$5 million. This investment increases Lantheus’s stake in Radiopharm to 12.16%, making it the largest shareholder. The funds will support the development of Radiopharm’s clinical pipeline, enhancing its position in the radiopharmaceutical industry. The placement was made at a 150% premium to the last traded price, signifying strong investor confidence. This development is expected to strengthen the collaboration between Radiopharm and Lantheus, potentially improving patient outcomes through advanced radiopharmaceutical solutions.

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More about Radiopharm Theranostics Limited

Radiopharm Theranostics Limited is a clinical-stage biopharmaceutical company that focuses on developing innovative oncology radiopharmaceuticals for areas of high unmet medical need. The company, listed on the ASX since November 2021, has a deep pipeline of differentiated molecules, including peptides, small molecules, and monoclonal antibodies, in pre-clinical and clinical development stages targeting various solid tumor cancers.

YTD Price Performance: 20.0%

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Average Trading Volume: 7,572,663

Technical Sentiment Consensus Rating: Buy

Current Market Cap: A$52.82M

For an in-depth examination of RAD stock, go to TipRanks’ Stock Analysis page.