Actinogen Medical - Funding in place to complete XanaMIA Phase IIb

Actinogen Medical announced a capital increase of up to A$11.1m on 18 September, consisting of the successful completion of an A$8.1m (gross) share placement to existing shareholders and new institutional investors, along with a A$3.0m shareholder purchase plan (SPP) offer to existing shareholders at the same financial terms as the placement. The company expects that the proceeds (assuming full exercise of the SPP) will extend its operating runway to the completion of top-line results for its XanaMIA Phase IIb/III trial in patients with mild-to-moderate Alzheimer’s disease (AD), expected in mid-CY26. The next major catalyst for Actinogen is the interim results on the first c 100 patients of this study, expected in mid-CY25, which could lead to licensing and/or value realisation opportunities. Our risk-adjusted net present value is A$616.8m (vs A$602.9m previously).