PYC Therapeutics (ASX:PYC) has completed the retail component of a major capital raising, adding approximately $47 million to its funding as the biotechnology company continues to advance its precision medicine programs for genetic diseases.
The retail entitlement offer closed on 27 February 2026 and allowed existing shareholders to purchase new shares at $1.50 each. Investors applied for around 31 million shares, representing a take-up rate of about 40 per cent. Shareholders who requested additional allocations beyond their original entitlement will receive their applications in full.
The retail component follows the earlier institutional entitlement offer and placement completed in early February, which raised roughly $537 million. Taken together, the capital raising represents a substantial funding round for the company as it continues to develop RNA-based therapies targeting monogenic diseases.
New shares issued under the retail offer are expected to be allotted on 6 March 2026 and begin trading on the ASX on 9 March. The shares will rank equally with existing shares, and holding statements will be dispatched shortly afterwards.
Of the shares not taken up in the retail offer, around 11 million will be allocated to underwriters under the terms of the underwriting agreement with major shareholders. A further approximately 35 million shares remain available for placement over the next three months at the board's discretion, provided they are issued at no less than the offer price.
PYC Therapeutics is a clinical-stage biotechnology company focused on developing RNA therapies designed to treat genetic diseases for which there are currently no effective treatment options. Its platform aims to improve the delivery and potency of precision medicines targeting single-gene disorders, an area of medicine widely regarded as more likely to succeed clinically.