Amplia Therapeutics Raises A$27.5M to Fund Key Clinical Trials
Amplia Therapeutics has successfully raised A$25 million through an institutional placement and launched a A$2.5 million Share Purchase Plan to fund pivotal clinical trials of its lead drug narmafotinib. The capital injection positions the company to advance key pancreatic and ovarian cancer studies into 2027.
- A$25 million institutional placement at $0.23 per share
- A$2.5 million Share Purchase Plan launched with potential oversubscription
- Funds to support ACCENT, AMPLICITY, kRAS, and ovarian cancer trials
- Top-line ACCENT trial data expected late July/early August 2025
- Company funded into 2027, enabling phase 2b/3 trial planning
Capital Raise Overview
Amplia Therapeutics Limited (ASX – ATX) has announced a successful capital raise totaling A$27.5 million, comprising a A$25 million institutional placement and a A$2.5 million Share Purchase Plan (SPP). The placement shares were priced at $0.23 each, representing a discount to recent trading prices but reflecting investor confidence in Amplia's clinical pipeline. The SPP offers existing shareholders an opportunity to participate at a similar price, with potential for oversubscription up to A$7.5 million.
Strategic Use of Funds
The funds raised are earmarked to support ongoing and upcoming clinical trials of Amplia’s lead drug candidate, narmafotinib (AMP945). This includes advancing the ACCENT trial in pancreatic cancer, the AMPLICITY trial, and exploratory studies targeting kRAS mutations and ovarian cancer. Notably, the capital will enable the company to accelerate preparations for a potential pivotal phase 2b/3 trial scheduled for the second half of 2026.
Investor Support and Market Position
The placement attracted strong support from both existing and new institutional investors domestically and internationally. Amplia’s Managing Director, Dr Chris Burns, expressed gratitude for the backing, highlighting the importance of the capital in building on promising early data from the ACCENT study. The company’s shares resumed trading on the ASX immediately following the announcement, signaling renewed market interest.
Upcoming Milestones and Outlook
Investors will be closely watching the imminent release of top-line data from the ACCENT trial, expected in late July or early August 2025. This data will be pivotal in shaping the trajectory of Amplia’s clinical development and potential regulatory pathways. With funding secured into 2027, Amplia is positioned to maintain momentum in its oncology focus, particularly in fibrotic cancers where Focal Adhesion Kinase inhibitors like narmafotinib show promise.
Shareholder Engagement and Approvals
Shareholder approval will be sought at the upcoming Annual General Meeting for conditional placements and the SPP. The company has also secured firm commitments for shortfall shares under the SPP, underscoring confidence in the raise. Amplia’s strategic capital management reflects a careful balance between advancing clinical programs and maintaining shareholder value.
Bottom Line?
Amplia’s successful capital raise sets the stage for critical clinical milestones, but upcoming trial data will be the true test of its growth potential.
Questions in the middle?
- Will the ACCENT trial data meet expectations and validate narmafotinib’s efficacy?
- How will shareholder approval impact the completion of the conditional placements and SPP?
- What are the prospects and timelines for regulatory approval following the planned phase 2b/3 trial?
