Actinium raises $27.5M

Actinium expects to raise $27.5 million to invest in its Sierra phase 3 trial, as well as other programs with Iomab.

The Company has granted the underwriters a 30-day option to purchase up to an additional 27,500,000 shares of common stock at the public offering price, less underwriting discounts and commissions.

The gross proceeds from this offering to Actinium are expected to be approximately $27.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Actinium.

Actinium intends to use the net proceeds from the offering to complete its ongoing pivotal, Phase 3 SIERRA trial for its lead product candidate, Iomab-B, and support its BLA filing. Net proceeds from this offering will also be used to progress Phase 1 trials from its refocused CD33 program to the proof of concept stage and support its AWE Technology Platform, Iomab-ACT program, research and development and general working capital needs.

Iomab-B is the company’s lead candidate, being studied in the ongoing pivotal Phase 3 Study of Iomab-B in Elderly Relapsed or Refractory Acute Myeloid Leukemia (SIERRA) trial for BMT conditioning.

The SIERRA trial is over fifty percent enrolled and promising single-agent, feasibility and safety data has been highlighted at ASH, TCT, ASCO and SOHO annual meetings.

Beyond Iomab-B, Actinium is developing a multi-disease, multi-target pipeline of clinical-stage ARCs targeting the antigens CD45 and CD33 for targeted conditioning and as a therapeutic either in combination with other therapeutic modalities or as a single agent for patients with a broad range of hematologic malignancies including acute myeloid leukemia, myelodysplastic syndrome and multiple myeloma.