[Edaily Reporter Kwon Oh Seok ] FutureChem Co., Ltd.(220100), a company specializing in radiopharmaceuticals, announced on the 7th that it had closed its rights offering—conducted through a public offering of unsubscribed shares following a shareholder allocation—with a subscription rate of 106.6% from existing shareholders.

According to FutureChem Co., Ltd., during the two-day subscription period for existing shareholders from the 3rd to the 4th, subscription requests exceeded the planned issuance of 3,389,830 shares, allowing the company to fully allocate the shares without any unclaimed shares.
FutureChem Co., Ltd. plans to allocate the funds raised through this rights offering primarily to the domestic Phase 3 clinical trial and U.S. Phase 2b clinical trial of “FC705,” its core pipeline product for prostate cancer treatment, as well as to research and development (R&D) for new pipelines and to bolster working capital. FC705 is set to announce its U.S. clinical trial results later this year, and the company is currently continuing discussions with global pharmaceutical companies regarding technology transfer (L/O).
In addition, FutureChem Co., Ltd. will conduct a stock split in parallel, allocating 0.2 new shares for every 1 common share held, to enhance shareholder value. New shares issued through this paid-in capital increase will also be automatically included in the bonus share allocation, meaning shareholders participating in the capital increase will receive the bonus shares as well. The record date for the bonus share allocation is September 18, and the scheduled listing date is October 13.
A representative of FutureChem Co., Ltd. stated, “We will swiftly invest the secured funds into advancing key clinical trials to complete our theranostics platform, which encompasses both diagnosis and treatment, and will do our utmost to enhance shareholder value.”