InhaleRx Finalises $600K Placement to Power Clinical Drug Advances
InhaleRx Limited has completed the final tranche of its share placement, raising $600,000 to support its clinical-stage drug development programs targeting pain and mental health.
- Final 6.9 million shares issued at $0.025 each
- Total $600,000 raised in Tranche 1 of placement
- Placement includes attaching options exercisable at $0.042
- Director Ron Wise to invest $35,000 subject to approval
- Funds to accelerate development of key drug candidates
Completion of Placement Tranche
InhaleRx Limited (ASX, IRX) has announced the completion of the final allotment of shares under Tranche 1 of its ongoing placement, raising $600,000 before costs. The company issued 6.9 million ordinary shares at an issue price of 2.5 cents each, marking the conclusion of this phase of capital raising. This tranche is part of a broader placement aiming to raise $750,000 through the issuance of 30 million shares.
Structure and Incentives of the Placement
The placement was managed by Peak Asset Management Pty Ltd, targeting professional and sophisticated investors. Participants receive one free attaching option for every two shares subscribed, exercisable at 4.2 cents and expiring two years from issue. These options are designed to provide additional upside potential for investors, though their formal issuance awaits shareholder approval at the upcoming General Meeting scheduled for 29 January 2026.
Director Participation and Shareholder Approval
Notably, director Ron Wise has committed to investing $35,000, subscribing for 1.4 million shares. This subscription is also subject to shareholder approval under ASX Listing Rule 10.1, reflecting governance standards around related party transactions. The approvals sought will clarify the final capital structure and potential dilution effects for existing shareholders.
Strategic Use of Funds
The funds raised through this placement tranche will support InhaleRx’s clinical-stage drug development programs. The company is advancing inhaled therapies targeting breakthrough cancer pain, panic disorder, and treatment-resistant depression. With a secured funding facility of up to $64.6 million, InhaleRx is positioning itself to accelerate clinical trials and pursue U.S. FDA approval via streamlined regulatory pathways.
Outlook and Market Implications
InhaleRx’s focus on rapid-onset inhaled therapies addresses significant unmet needs in pain management and mental health, areas with substantial market demand and limited effective treatments. The successful completion of this placement tranche signals investor confidence in the company’s strategy and clinical pipeline. However, the pending shareholder approvals and the company’s ability to execute on its development milestones will be critical to watch in the coming months.
Bottom Line?
InhaleRx’s capital raise milestone sets the stage for pivotal clinical progress and shareholder decisions ahead.
Questions in the middle?
- Will shareholders approve the issuance of attaching options and director’s share subscription?
- How will the company prioritise allocation of the $64.6 million funding facility?
- What are the timelines and regulatory hurdles for the key drug candidates’ FDA approval?
