Actuate sets price for 2.14 million shares at $7.00 in public offering with underwriters
Public Offering Details: Actuate Therapeutics has priced an underwritten public offering of 2,142,858 shares of common stock at $7.00 per share, with a potential additional 321,428 shares available to underwriters.
Financial Proceeds and Use: The offering is expected to generate approximately $15 million in gross proceeds, which will be used for working capital and general corporate purposes, with the closing anticipated on September 11, 2025.
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Actuate Therapeutics Announces Encouraging Phase II Results for Salivary Gland Cancers
Positive Study Results: Actuate Therapeutics reported favorable outcomes from a Phase II study of elraglusib combined with carboplatin or cisplatin for advanced metastatic salivary gland cancers, showing a median overall survival of 18.6 months.
Patient Demographics and Survival Rates: The study included 47% adenoid cystic carcinoma (ACC) and 53% non-ACC patients, with non-ACC patients experiencing a median overall survival of 27.8 months.
Progression-Free Survival: The median progression-free survival was 6.4 months, with only 27% of patients remaining progression-free at one year, contrasting with historical estimates for ACC and non-ACC.
Market Reaction: Following the announcement, Actuate shares increased by over 4% in pre-market trading, closing at $7.52, reflecting a 1.35% rise from the previous day.
HC Wainwright & Co. Affirms Buy Rating for Actuate Therapeutics, Keeps $20 Price Target Intact
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