Racura Oncology Raises Over AU$24 Million Via Piggyback Option Offer; Shares Jump 6%

MT Newswires Live

Jun 04

Racura Oncology (ASX:RAC) said it generated proceeds of about AU$24.4 million after a total of 19.5 million piggyback options were exercised out of the 20.1 million issued at its piggyback option offer, representing a 97% conversion rate, according to a Thursday Australian bourse filing.

The proceeds provide additional capital to advance the company's clinical programs in acute myeloid leukemia, lung cancer, and anthracycline cardioprotection, as well as general working capital, per the filing.

The company's shares rose nearly 6% in recent trading on Thursday.

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