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Alterity Therapeutics ((ASX: ATH, NASDAQ:ATHE) ("Alterity" or "the Company"), a biotechnology company dedicated to developing disease modifying treatments for neurodegenerative diseases, today announced it has received binding commitments for a capital raising of A$20.0 million (the "Placement") of fully paid ordinary shares ("New Shares") to International and Australian professional investors.
"We are thankful for the continued interest from the investment community following the robust efficacy we demonstrated in our Phase 2 clinical trial in Multiple System Atrophy. We look forward to an exciting twelve months ahead as we actively pursue the path to approval," said, David Stamler, M.D., Chief Executive Officer of Alterity. "We elected to execute this placement due to inbound interest from a high-quality international healthcare-focused fund that anchored the transaction. Based on the promising outlook for the company, we raised these funds at a modest discount with no options. The additional funding allows us to continue advancing our clinical and regulatory strategy for ATH434 with the US FDA and other agencies, while at the same time it strengthens our institutional register and balance sheet to best position the company for pursuing strategic partnerships."
MST Financial Services Pty Ltd (MST) acted as sole manager of the offering.
Placement details
The Placement was conducted at A$0.012 per share, representing a discount of 7.7% to the last ASX closing price prior to the trading halt and a 7.3% discount to the 10-day volume weighted average price (vwap). There were no options issued as part of this transaction. The new shares to be issued will rank equally with existing ATH fully paid ordinary shares. Further details are set out in the Appendix 3B released to ASX at or about the same time as this announcement.
Use of Proceeds
The use of proceeds from this financing will provide Alterity a strong balance sheet to fund the necessary non-clinical studies, chemical manufacturing and controls (CMC) activities, clinical and regulatory activities for future development of ATH434 in MSA, and general working capital.
During 2025, Alterity has released positive topline results from its ATH434-201 and ATH434-202 Phase 2 clinical trials of ATH434. The data have demonstrated a clinically meaningful benefit and a favorable safety profile. Based on the strength of these Phase 2 data, the company plans to engage with the FDA to discuss the path forward for future development of ATH434.
Posted In: ATHE
