Latest news with #capitalraising
News.com.au
3 days ago
- Business
- News.com.au
Health Check: Clarity shares surge after ‘fast and sizeable' $203m raise
• Clarity Pharmaceuticals rocket up to 12% after its blitzkrieg placement • Artrya, Botanix and Imricor are among today's quarterly updates • Lumos outlines US market potential Radiopharmaceutical group Clarity Pharmaceuticals (ASX:CU6) has surprised investors with a monstrous $203 million institutional placement, struck at a 15% premium to the company's 15-day average price. None will be more surprised than the short sellers, who account for close to 10% of the company's register. Executive chairman Dr Alan Taylor says the 'fast, well executed and sizeable' placement was to a small group of local instos 'close to the company'. Unusually, no-one blabbed and the shares did not enter trading halt. 'I have never done a deal that fast,' Taylor told Stockhead. 'A week ago, I would have said we were not doing a capital raising, but there was a lot of interest from a very concentrated group . "The raising was struck at $4.20 a share, a 2.2% premium to Friday's close and a hefty 18% more than the 15-day weighted average price. The raising comes amid what Taylor dubs 'an incredibly tumultuous' period driven by US politics, as well as some 'unfortunate news' from local biotechs (read: Opthea's (ASX:OPT) phase III trial failure). In December Clarity shares were promoted to the ASX200, which was good for enhancing Clarity's profile. But it also contributed to shorting activity. Given the share gains, these investors are likely to be buying up stock to cover their positions. Well funded for trials Clarity emerges from the raising with $288 million of cash, which will fund the company's packed slate of trials. These include two phase III prostate cancer imaging trial aimed at US Food & Drug Administration registration, dubbed Amplify and Clarify. Amplify is for patients with biochemical recurrence post treatment; Clarify is for those intended to undertake prostate removal. Both are open label and single-arm (with no placebo and comparison cohort). Another trial on the sidelines, Co-PSMA compares Clarity's tool with the standard-of-care diagnosis methods. The company expects an initial data readout on this one before the end of the year, with Amplify and Clarify readouts next year. Clarity listed in August 2021, raising a record $92 million at $1.40 apiece. The company then went one better in April last year, raising $121 million in a right issue and placement (at $2.55 a share). The raising is one of the biggest in biotech history and the chunkiest since Mesoblast gathered $260 million in a placement in January. Imricor confident of US approval Imricor Medical Systems (ASX:IMR) is confident of US approval of its world-first ablation catheter this year. We say 'world's first' because the device is the only one capable of being guided by magnetic resonance imaging (MRI), as opposed to x-ray fluoroscopy. Imricor's submission is by way of a staggered, modular process. The company reports the second module is under review and the company expects to submit the third module in the December quarter. 'We expect a steady string of 510(k) product submissions and approvals , which in turn helps accelerate the commercial launch across the US," the company says. In the March quarter European regulators approved Vision-MR, the company's updated catheter for type 1 atrial flutter, under the Continent's bolstered Medical Devices Regulation. In the June quarter they also gave the nod to Advantage-MR, which enables a physician to use a recording system and cardiac stimulator while ablating. The European gatekeepers also approved Northstar, 'the world's only MRI-native 3D mapping and guidance system.' With June quarter receipts of US$85,000, Imricor is yet to start European sales in earnest. The company posted June quarter outflows of US$4.43 million, taking cash on hand to a handy US$50.3 million. Sales will flow this quarter, says plaque-buster Artrya Still on matters of the heart, Artrya (ASX:AYA) expects first US subscription revenue from its AI-enabled Salix coronary plaque detection platform in the current quarter. An algorithm-based artificial intelligence tool, Salix detects the plaque deposits on x-ray coronary computed tomography angiograph (CCTA) images. Despite vulnerable plaque being the cause of most heart attacks, plaque currently is not routinely reported in cardiac imaging and diagnostics. It's difficult to detect with the naked eye in traditional images. In March the FDA approved Salix Coronary Anatomy (SCA) and Artrya is now seeking the agency's consent for Salix Coronary Plaque (SCP). SCP expands applicability to detecting and quantifying coronary arterial plaque for those patients who have undergone a coronary CT angiogram. The SCP module will integrate automatically with SCA. SCA already is being trialled and in clinical use, by Artrya's customers and partners, generating a symbolic $8000 in receipts of the quarter. Earlier this month Artrya inked its first commercial deal, a five-year minimum $600,000 contract with Tanner Health. Artrya expended $5.44 million for the quarter, taking cash to $11.3 million. The company expects a $4.5-5 million R&D tax refund by the end of the year. Botanix reports 600% revenue uptick Botanix Pharmaceuticals (ASX:BOT) reports net revenue of $4.3 million from US sales of Sofdra, compared with $700,000 in the March quarter. The company launched the drug – which treat an excessive sweating condition – in the US in March quarter. The 'net' descriptor is relevant, because some folks were taken aback after the company's July 8 update which showed the extent to which other parties clipped the revenue ticket, Doctors wrote 7053 prescriptions during the quarter, 324% higher than 2975 in the March stanza. The number of prescribers rose 11%, to 2316 from 1075 previously. Launching a drug is not cheap and the company burnt $28.4 million, leaving cash of $64.9 million. Let's be CLIA, it's a big market says Lumos Lumos Diagnostics (ASX:LDX) expects its Febridx virus-versus-bacterial diagnostic tool to capture eight million US patients within three years, via its company making distribution deal with Phase Scientific. Announcing the tie up on July 16, Lumos said the deal would deliver US$2 million immediately – cash the company has, indeed, banked – and a total of US$317 million ($487 million) over six years. Detailing the arrangement on Friday, CEO Doug Ward said the company expected a total addressable market of 80 million, assuming the FDA grants a so-called CLIA waiver. The number consists of patients present with acute respiratory infections. 'Our thinking is that in years two to three we will be 2% or 3% of that,' Ward said. 'In year six, that ramps up to 10%.' As in Clinical Laboratories Improvement Act, CLIA requires hospitals and labs to operate under government accreditation Exemption from CLIA enables parties such as GPs and medical assistants to carry out the low-complexity lateral-flow assays. In financial terms, the market increases tenfold, to US$1 billion a year. Lumos is carrying out a trial to support its FDA application and has recruited close to 120 of the bacterial-positive patients required. Coming back to the finances, Phase pays Lumos another US$1.5 million on its CLIA application, expected next month. On FDA approval, Phase pays another US$5 million. That leaves US$308 million over years three to six, which Ward says is based on minimum order volumes. Lumos shares rocketed 133% on the back of the Phase announcement and have held their gains.
Yahoo
21-07-2025
- Business
- Yahoo
Morgan Stanley hires Shahsingh from UBS to head North American industrials banking
NEW YORK (Reuters) -Morgan Stanley hired Aftab Shahsingh from UBS to lead industrials services coverage in its investment bank in North America, according to a source familiar with the situation. Shahsingh has worked in industrial services for more than 15 years and led more than 50 advisory and capital raising transactions since 2020, said the source, who declined to be identified discussing personnel matters. Shahsingh will join Morgan Stanley later this year. The bank has been adding to its industrials practice with recent hires, including David Hammond in metals and mining and Sean Murray for chemicals, both from Goldman Sachs, and Andy Lipsky and Chris Khouri for industrial technology coverage from JPMorgan Chase. Last week, Morgan Stanley reported a profit that beat Wall Street estimates in the second quarter, but its investment banking revenue shrank. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
21-07-2025
- Business
- Reuters
Morgan Stanley hires Shahsingh from UBS to head North American industrials banking
NEW YORK, July 21 (Reuters) - Morgan Stanley (MS.N), opens new tab hired Aftab Shahsingh from UBS (UBSG.S), opens new tab to lead industrials services coverage in its investment bank in North America, according to a source familiar with the situation. Shahsingh has worked in industrial services for more than 15 years and led more than 50 advisory and capital raising transactions since 2020, said the source, who declined to be identified discussing personnel matters. Shahsingh will join Morgan Stanley later this year. The bank has been adding to its industrials practice with recent hires, including David Hammond in metals and mining and Sean Murray for chemicals, both from Goldman Sachs, and Andy Lipsky and Chris Khouri for industrial technology coverage from JPMorgan Chase. Last week, Morgan Stanley reported a profit that beat Wall Street estimates in the second quarter, but its investment banking revenue shrank.
Bloomberg
16-07-2025
- Business
- Bloomberg
Morgan Stanley Beats Rivals With Heftiest Equity Underwriting Haul Since 2021
Whiplashing trade war updates held up some capital raising at the beginning of the second quarter, but a June comeback led to Morgan Stanley 's best global equity underwriting fee haul since the fourth quarter of 2021. The New York-based bank raked in $500 million of revenue from initial public offerings, follow-on stock sales, convertible bonds and other equity capital markets products, a 42% jump from the same period last year. That quarterly haul outstripped its closest rivals, including JPMorgan Chase & Co. and Goldman Sachs Group, which brought in $465 million and $428 million, respectively, earnings releases this week showed.
Zawya
07-07-2025
- Business
- Zawya
RAKBANK has successfully completed its first Additional Tier 1 (AT1) security issuance, raising $300mln
Dubai, United Arab Emirates – RAKBANK has successfully completed its first Additional Tier 1 (AT1) security issuance, raising USD 300 million. The perpetual securities have a no-call period of six years (PerpNC6) and carry a coupon rate of 6.625%. The issuance was met with strong investor demand, allowing RAKBANK to tighten pricing by 37.5 basis points. This reflects investor confidence in the Bank's financial strength and growth outlook. The additional capital strengthens the Bank's ability to support lending activities, invest in strategic initiatives, and reinforce its competitive position. It also enables RAKBANK to continue delivering innovative financial products and services to its customers. About RAKBANK RAKBANK, also known as the National Bank of Ras Al Khaimah (P.S.C), is one of the UAE's oldest yet most dynamic banks. Since 1976, RAKBANK has been a market leader, offering a wide range of banking services across the UAE. We're a public joint stock company based in Ras Al Khaimah, UAE, with our head office located in the RAKBANK Building on Sheikh Mohammed Bin Zayed Road. The Government of Ras Al Khaimah holds the majority of our shares, which are publicly traded on the Abu Dhabi Securities Exchange (ADX). RAKBANK stands out for its innovation and unwavering commitment to delivering awesome customer experiences. Our transformative digital journey aims to be a 'digital bank with a human touch,' accompanying you during key moments. With 21 branches and advanced Digital Banking solutions, we offer a wide range of Personal, Wholesale, and Business Banking services. Through our Islamic Banking unit, RAKislamic, we provide Sharia-compliant services to make your banking experience seamless, whether you visit us in person or online. For more information, please visit or contact the Call Centre on +9714 213 0000. Alternatively, you can connect with us on our social media platforms: For more information, please contact: Suzana Saoud Senior Account Manager Gambit Communications Suzana@
