Actuate Therapeutics Closes $17.25 Million Stock Offering
Actuate Therapeutics Successfully Completes $17.25 Million Offering
Actuate Therapeutics, Inc. (NASDAQ: ACTU), a dynamic company dedicated to the fight against challenging cancers, has recently completed an impressive $17.25 million public offering of its common stock. This fundraising initiative included the full exercise of the underwriter's over-allotment option, solidifying investor confidence in Actuate's vision and projects. Each share was priced at $7.00, promptly underscoring the strong market demand.
Key Players in the Offering
In this endeavor, Lucid Capital Markets served as the sole book-running manager, ensuring that the offering proceeded smoothly. Additionally, Titan Partners Group provided valuable financial advice to the Actuate team throughout the course of the offering. Legal representation was handled by Greenberg Traurig, LLP for Actuate, while Lowenstein Sandler LLP represented the underwriter, ensuring all aspects of the transaction adhered to regulatory standards.
Utilization of Proceeds
The net proceeds from this successful offering are expected to total approximately $15.62 million. Actuate plans to allocate these funds towards general corporate purposes and working capital, aimed at accelerating their pipeline of cancer treatment therapies. This strategic investment will also support the ongoing development of promising treatments targeting high-impact cancers.
About Actuate’s Research
Actuate Therapeutics is on the forefront of cancer treatment innovation, particularly with their investigational drug elraglusib. This novel GSK-3? inhibitor targets crucial molecular pathways associated with tumor growth and drug resistance. In particular, elraglusib impacts cancer mechanisms that evade traditional treatments like chemotherapy. Importantly, it also plays a role in enhancing anti-tumor immune responses through key immune checkpoint regulation, which may open doors to more effective cancer therapies.
Future Prospects
Investing in Actuate means investing in hope. As a clinical-stage biopharmaceutical firm, Actuate remains dedicated to its mission of developing effective therapies for patients battling hard-to-treat cancers. With their innovative approaches and responsive strategies, the company is poised to make a meaningful impact in the healthcare field.
Contacting Actuate Therapeutics
For further inquiries or investor relations concerns, interested parties are encouraged to contact Mike Moyer, Managing Director at LifeSci Advisors, LLC, via email at mmoyer@lifesciadvisors.com. Additionally, for media communications, Ignacio Guerrero-Ros, Ph.D., and David Schull from Russo Partners are available at their respective email addresses or via phone, ensuring clear lines of communication for all stakeholders.
Frequently Asked Questions
What was the amount raised in the recent offering?
Actuate Therapeutics raised $17.25 million through their public offering of common stock.
Which company managed the public offering?
Lucid Capital Markets acted as the sole book-running manager for the public offering.
How will the funds from the offering be utilized?
The proceeds will be used for general corporate purposes and working capital to accelerate the development of cancer therapies.
What is the focus of Actuate Therapeutics?
Actuate is focused on developing innovative therapies for difficult-to-treat cancers, particularly through their lead drug, elraglusib.
Who can be contacted for investor relations?
Mike Moyer from LifeSci Advisors, LLC is the contact for investor relations at Actuate Therapeutics.
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