Amplia Therapeutics launched a fully underwritten entitlement offer on a 2-for-5 basis to raise approximately $4.3 million.

Priced at 5.5 cents per new share, this entails a 35.3% discount to the previous traded price.

The funds will fuel crucial development initiatives, such as the Phase 2a ACCENT trial, the production of narmafotinib, and an investigator-initiated trial in ovarian cancer.

The proceeds will also support ongoing trials and product development, with interim ACCENT trial results expected in the third quarter.