08:45 AM EST, 01/10/2025 (MT Newswires) -- Radiopharm Theranostics ( RADX ) said Friday it has raised $5 million through a private placement of its ordinary shares with Lantheus Holdings ( LNTH ) , increasing Lantheus' ( LNTH ) stake in the company to nearly 12.2%.

Radiopharm said the placement, expected to settle in seven days, involved the issuance of 133 million shares at 0.060 Australian dollars ($0.037) per share.

Radiopharm said it intends to allocate the funds to support the development of its clinical pipeline.

This follows an earlier investment by Lantheus ( LNTH ) in June last year, Radiopharm added.

Shares of Radiopharm were up more than 6% in recent Friday premarket activity.