Stock Track | TransThera-B Soars 6.12% Intraday Following Share Placement for Oncology Drug Development

Stock Track05-19

TRANSTHERA-B's stock soared 6.12% during intraday trading on Tuesday, following the company's announcement of a capital raise to fund the expansion of its key drug pipeline.

TransThera Sciences disclosed a best-effort placement of 3.84 million new H-shares at HK$40.83 each, aiming to raise approximately HK$156.62 million in gross proceeds. The company plans to allocate about 90% of the net proceeds to develop additional indications for its core oncology product Tinengotinib, with the remainder for working capital and general corporate purposes.

The positive market reaction is supported by recent clinical trial results published in the Nature Communications journal, which showed that Tinengotinib demonstrated anti-tumor activity in patients with advanced solid tumors and advanced biliary tract cancer. Investors appear optimistic that the fresh capital will accelerate the development and commercial readiness of the company's targeted therapies.

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