Atrium Therapeutics entered into a securities purchase agreement with institutional investors for a $50 million private placement to support development of its precision cardiology pipeline.
Investors participating in the financing include Sirenia Capital Management, Aberdeen Investments, Montanova, Sessa Capital, Casdin Capital, a life sciences-focused institutional investor, and others.
Atrium agreed to sell approximately 5.17 million common shares at $7.93 per share.
The company will also issue pre-funded warrants to purchase approximately 1.13 million common shares at $7.929 per warrant, reflecting the $7.93 common share price less the $0.001 exercise price.
The financing was priced at the market under Nasdaq rules.
Atrium expects the private placement to close on or about October 9, 2026, subject to customary closing conditions.
The company plans to use the proceeds, together with existing cash, cash equivalents, and investments, to fund development of its two lead product candidates, additional research programs, working capital, and general corporate purposes.
Atrium estimates that the financing and its existing capital will fund operations through 2028.
The company’s lead program, ATR 1072, is being developed for PRKAG2 syndrome.
The FDA has cleared Atrium’s IND for ATR 1072, allowing the company to advance the program into the Corventis Phase 1/2 clinical trial.
Atrium is also developing ATR 1086 for PLN cardiomyopathy.
Its pipeline includes two additional undisclosed research programs targeting rare cardiomyopathies.
Atrium’s technology uses targeted delivery approaches designed to transport RNA therapeutics directly to the heart.
The platform combines the tissue selectivity of monoclonal antibodies and other targeting ligands with oligonucleotide therapeutics, including small interfering RNA.
The technology was originally developed at Avidity Biosciences.
Support: Leerink Partners served as lead placement agent. Cantor, Barclays, and Wells Fargo Securities also served as placement agents.
