A Canadian %Biotech company is turning heads this morning after it was announced that the company raised $60 million to fund the acquisition of a prostate cancer-targeted %Radiopharmaceutical from RadioMedix Inc.
The release went on to say that %FusionPharmaceuticals () acquired the investigational new drug application for an ongoing Phase 2 TATCIST trial evaluating 225Ac-PSMT I&T, a small molecule targeting prostate-specific membrane antigen (PSMA). This sent shares of this small cap soaring as traders are currently willing to purchase at $4.33/share (+19.28% implied open for sellers) at the time of writing.
Fusion Pharmaceuticals Inc is a clinical-stage biopharmaceutical company focused on developing alpha therapeutics for curing cancer. It develops Targeted Alpha Therapies (TAT) together with its proprietary Fast-Clear linker technology. The firm's lead product candidate comprises FPI-1434, a monotherapy for the treatment of a variety of cancers; FPI-1966, for the treatment of head and neck and bladder cancers; and FPI-2059 among others.