SPL

SPL is executing an entitlement offer to bolster cash reserves from a modest $11m base, likely to fund near-term clinical or operational needs. The minimal pre-announcement move suggests limited market anticipation of funding requirements.

Starpharma is launching a renounceable entitlement offer to fund operations, with the investor presentation teed up for 15 July 2026; the +9% pre-announcement run-up and modest 5d momentum (+6%) suggest modest market support, though the offer size and use-of-proceeds are not yet disclosed.

SPL is raising $32m (10% of market cap) via fully underwritten entitlement to extend cash runway into FY28 and fund DEP® HER2-Lu Phase 1 and novel dendrimer oncology pipeline expansion, building on recent radioligand therapy preclinical data.

SPL has advanced its DEP® HER2-Lu radioligand therapy candidate to Phase 1 entry (H2 2026) with completed preclinical package and FDA clarity, while securing $0.5M upfront + up to A$91M in milestones from Radiopharm Theranostics partnership. The company is pivoting strategy toward higher-value dendrimer-enhanced oncology assets, though $11M cash may present funding pressure depending on clinical burn rate.