Adlai Nortye Announces $140.0 Million Private Placement Equity Financing
Adlai Nortye (Nasdaq: ANL) announced a private placement expected to raise approximately $140.0 million gross, selling 64,615,386 Class A ordinary shares (equivalent to 21,538,462 ADS) at $2.1667 per share (equivalent to $6.50 per ADS).
Rhea-AI Summary
Adlai Nortye (Nasdaq: ANL) announced a private placement expected to raise approximately $140.0 million gross, selling 64,615,386 Class A ordinary shares (equivalent to 21,538,462 ADS) at $2.1667 per share (equivalent to $6.50 per ADS).
The placement was co-led by Cormorant Asset Management and Columbia Threadneedle Investments, includes about $55 million purchased by entities controlled by Chairman and CEO Yang Lu, and will be registered for resale with the SEC.
Positive
- Gross proceeds of $140.0 million
- Insider participation of $55 million by CEO-controlled entities
- Placement co-led by institutional investors Cormorant and Columbia Threadneedle
Negative
- Sale of 64,615,386 Class A shares may cause shareholder dilution
- ADS resale limited until SEC registration is filed and effective
Details
News Market Reaction – ANL
In the Feb 3 session, ANL gained 1.40%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- Private placement size
- $140.0 million
- Expected gross proceeds before fees from equity financing
- Shares sold
- 64,615,386 Class A shares
- Total Class A ordinary shares issued in private placement
- ADS equivalent
- 21,538,462 ADS
- Each ADS represents 3 Class A ordinary shares
- Share price
- $2.1667 per share
- Private placement price per Class A ordinary share
- ADS price
- $6.50 per ADS
- Private placement price per American Depositary Share
- Insider participation
- ≈$55 million
- Class A shares purchased by entities controlled by CEO Yang Lu
- Net loss H1 2025
- $18.3M
- Unaudited net loss for six months ended June 30, 2025
- Cash and equivalents
- $44.1M
- Cash and cash equivalents as of June 30, 2025 (excludes $18.2M restricted)
Historical Context
-
Exclusive AN9025 license in Greater China with up to RMB 1.6B in value.
-
Management participation in upcoming healthcare investor conferences and meetings.
-
Strong preclinical AN4035 data with 73% objective response rate in models.
-
Announcement of upcoming AN4035 short talk at major oncology conference.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
private investment in public equity financial
gross proceeds financial
placement agents financial
registration statement regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
SINGAPORE and NORTH BRUNSWICK, N.J. and HANGZHOU, China, Feb. 03, 2026 (GLOBE NEWSWIRE) -- Adlai Nortye Ltd. (Nasdaq: ANL) (the “Company” or “Adlai Nortye”), a clinical-stage biotechnology company focused on the development of innovative cancer therapies, today announced that it has entered into securities purchase agreements for a private investment in public equity financing that is expected to result in gross proceeds of approximately
In the private placement, the Company is selling 64,615,386 Class A ordinary shares of the Company (equivalent of 21,538,462 American Depositary Shares, each representing 3 Class A ordinary shares), at a price of
The private placement was co-led by Cormorant Asset Management and Columbia Threadneedle Investments with participation from both new and existing investors including Balyasny Asset Management L.P., Point72, Squadron Capital Management and Casdin Capital.
The private placement includes the sale of approximately
“We are pleased that this high-quality healthcare investor group came together to support Adlai Nortye and our innovative and potentially best-in-class RAS-targeting therapies,” said Yang Lu, Chairman and Chief Executive Officer of Adlai Nortye. “We thank the investors for their confidence in the broad potential of our RAS-targeting therapies and Next-generation cancer immunotherapies, and their support for our mission to transform deadly cancer into a chronic and eventually curable disease.”
Jefferies, Leerink Partners, Lucid Capital Markets, H.C. Wainwright & Co. and Jones are acting as joint placement agents for the private placement.
The securities being issued and sold in this private placement have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Adlai Nortye has agreed to file a registration statement with the Securities and Exchange Commission registering the resale of the ADSs issued in the private placement.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.
About Adlai Nortye
Adlai Nortye is a global clinical-stage company at the forefront of discovering and developing innovative cancer therapies. Leveraging its dual R&D presence in the United States and China, Adlai Nortye is building a robust pipeline of drug candidates focused on two key areas where it believes it can make a significant difference. (1) Next-generation cancer immunotherapies: Adlai Nortye’s drug candidates, AN8025 (a tri-functional fusion protein of αPD-L1 x CD86 variant x LAG3 variant), a T-cell and antigen-presenting cell modulator, and AN4005 (a first-in-class oral small-molecule PD-L1 inhibitor), are designed to activate cancer immunity in novel ways. (2) RAS-targeting therapies: Adlai Nortye is tackling RAS-driven cancers with AN9025, an oral pan-RAS(ON) inhibitor, and AN4035, a CEACAM5-targeting ADC delivering a potent pan-RAS(ON) inhibitor directly to tumors.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,” “could,” “design,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “positioned,” “potential,” “predict,” “seek,” “should,” “target,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology. All statements other than statements of historical facts contained in this press release are forward-looking statements. These forward-looking statements include, but are not limited to, statements about: the expected closing date of the private placement; cash operating runway; and the intended use of proceeds. These and other risks are described in greater detail under the section titled “Risk Factors” contained in the company’s Annual Report on Form 20-F and earnings release on Form 6-K and the Company’s other filings with the SEC. Any forward-looking statements that the Company makes in this press release are made pursuant to the Private Securities Litigation Reform Act of 1995, as amended, and speak only as of the date of this press release. Except as required by law, the company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
Company contact:
Investor Relations
Email: ir@adlainortye.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.