Update: Public offering to fund late-stage development
Actinium Pharmaceuticals is developing targeted radiation therapies (both alpha and beta particle based) that offer the prospect of highly selective tumour cell killing with limited side effects compared to existing therapies. The underwritten public offering consists of 4.44m shares and 3.33m warrants (exercisable over four years) at a combined price of $4.50. The $20m (gross) raised will be used to progress the late-stage clinical programmes to key value inflection points, notably Iomab-B in a pivotal Phase III trial.Actinium Pharmaceuticals is a clinical-stage, biopharmaceutical company focused on developing and potentially commercializing therapies for targeted conditioning prior to cell therapies. The company's key targeted conditioning product candidate is Iomab-B, an Antibody Radiation-Conjugates (ARC) that is comprised of the anti-CD45 mAb known as apamistamab or BC8 and the radioisotope iodine-131. The company is applying its CD33 targeting ARC product candidate lintuzumab-Ac-225 to multiple hematologic indications as CD33 is an antigen that has been found to be expressed in a majority of patients with Acute Myeloid Leukemia and Myelodysplastic Syndrome and 25% to 35% of patients with Multiple Myeloma.
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