Posted: 5 February 2025
Alterity Therapeutics (ASX: ATH, NASDAQ: ATHE) (“Alterity” or “the Company”), a biotechnology company dedicated to developing disease modifying treatments for neurodegenerative diseases, today announced that it raised capital in the U.S. to accelerate clinical development and business development activities for the Company’s lead asset, ATH434.
Based on the positive topline results reported on 30 January 2025 from the ATH434-201 Phase 2 trial in multiple system atrophy (MSA), the Company was afforded the opportunity to raise capital in the U.S. via its at-the-market (ATM) facility. In addition to raising approximately A$2.13M on the ATM, the Company expects to receive in Q1 CY2025 approximately A$5.69M in rebates from the from the Australian Taxation Office under the Australian Government’s Research and Development Tax Incentive (R&DTI) Scheme.
Combined, these proceeds will enable the Company to advance its clinical and regulatory activities, and to accelerate business development activities for ATH434.
