More

    Warning: Illegal string offset 'sidebar' in /home/customer/www/stocks.com.au/public_html/wp-content/themes/mining/functions.php on line 498

    Warning: Illegal string offset 'home' in /home/customer/www/stocks.com.au/public_html/wp-content/themes/mining/functions.php on line 498

    Warning: Illegal string offset 'home' in /home/customer/www/stocks.com.au/public_html/wp-content/themes/mining/functions.php on line 500

    Warning: Illegal string offset 'home' in /home/customer/www/stocks.com.au/public_html/wp-content/themes/mining/functions.php on line 504

    Warning: Illegal string offset 'sidebar' in /home/customer/www/stocks.com.au/public_html/wp-content/themes/mining/functions.php on line 516

    Warning: Illegal string offset 'home' in /home/customer/www/stocks.com.au/public_html/wp-content/themes/mining/functions.php on line 516

    Warning: Illegal string offset 'home' in /home/customer/www/stocks.com.au/public_html/wp-content/themes/mining/functions.php on line 518

    Alterity Therapeutics pockets $1.3 million via tranche one placement

    Small-cap biotech Alterity Therapeutics (ASX:ATH) has pocketed $1.3 million from the first tranche of its $4.8 million share placement to help fund its ongoing clinical trial work. 

    The $9.75 million market capitalisation company says the proceeds from the placement will provide ongoing funding for its phase two clinical trials in Multiple System Atrophy (MSA), ATH434-201 and ATH434-202, and help with planning for a potential phase three trial. 

    Alterity’s key asset, ATH434, has the potential to treat various Parkinsonian disorders. 

    Under the second tranche, the company is aiming to raise $3.5 million, subject to shareholder approval at a General Meeting slated for 29 December 2023. 

    For every new share issued, one free attaching short-dated option will be issued to investors. These options will have an exercise price of $0.007 and an expiry date of 31 August 2024. 

    Meanwhile, for every 3 new shares issued, one free attaching long-dated option will be issued. The long-dated option will have an exercise price of $0.01 and an expiry date of 31 August 2026. 

    The placement was managed by financial services provider MST Financial. 

    Alterity Therapeutics is a clinical-stage biotechnology company focused on creating an alternate future for people living with neurodegenerative diseases. 

    Write to Aaliyah Rogan at Mining.com.au

    Images: Alterity Therapeutics
    Aaliyah Rogan
    Aaliyah Rogan
    Recently relocated from a small town in New Zealand to Queensland Australia, Aaliyah Rogan is a fervent journalist who recently completed a Communications/Media degree at Otago University. Aaliyah hopes to excel as a journalist and become an inspiration to others.