Radiopharm Theranostics Ltd ADR (NASDAQ:RADX) experienced a marked decline in its share price, slipping roughly 21% on Friday following the company's announcement of concurrent capital raises in the United States and Australia that could total as much as $13 million.
Under the terms disclosed, Radiopharm has entered into a Securities Purchase Agreement with U.S. accredited institutional investors to sell 1,281,646 American Depositary Shares in a registered direct offering at a price of $3.16 per ADS. That portion of the transaction is expected to generate about $4.1 million in gross proceeds before deducting fees and expenses. Each ADS issued in the offering represents 300 ordinary shares of the company.
In parallel with the registered direct sale, the company will conduct a private placement under the same agreement to issue unregistered warrants to purchase up to 1,281,646 ADSs. The warrants carry an exercise price of $3.79 per ADS and are set to expire on July 31, 2029. According to the filing, those warrants will only become exercisable after shareholders approve the issuance of the ordinary shares underlying the ADSs upon exercise.
The filings indicate the transactions are anticipated to close on or about July 28, 2026, subject to customary closing conditions. H.C. Wainwright & Co. is named as the exclusive U.S. placement agent for the deal.
Radiopharm is a clinical-stage biopharmaceutical company concentrating on oncology radiopharmaceuticals aimed at areas of high unmet medical need. Its development portfolio comprises platform approaches that include peptides, small molecules and monoclonal antibodies intended for cancer treatment.
The company's clinical activity, as outlined in the announcement, comprises a single Phase 2 trial and five Phase 1 trials addressing various solid tumor indications, including cancers of the lung and breast as well as brain metastases.
Radiopharm maintains listings on both the Australian Securities Exchange under the ticker RAD and on Nasdaq under the ticker RADX.
Note: The article presents information disclosed by the company about the proposed financings, terms of the securities and the companys clinical programs. The timetable and the financings remain subject to customary closing conditions and shareholder approval where indicated.