The company successfully closed a $57.5 million offering with full exercise of over-allotment option, demonstrating strong investor demand. The funding provides runway through Q1 2028 and enables completion of Phase 2 trials for lead candidate LTI-03, which has orphan drug designation. CEO commentary reflects confidence in advancing clinical and operational priorities.
The company successfully completed a $50 million public offering to fund its lead product candidate LTI-03 through Phase 2 completion, with sufficient capital runway extending into 2028. The accelerating patient enrollment in the Phase 2 RENEW study and orphan drug designations for both lead candidates demonstrate clinical progress and regulatory support.
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