• Clarity raises $203 million through institutional placement
• Offer price of $4.20 per share, representing 2.2% premium to last close
• Placement strengthens Clarity's balance sheet with $288 million pro-forma cash

Clarity Pharmaceuticals, a clinical-stage radiopharmaceutical company, has successfully completed a $203 million institutional placement. The offer price of $4.20 per share represents a 2.2% premium to Clarity's last closing price and an 18.0% premium to the 15-day volume-weighted average price. Following the placement, Clarity will have a pro-forma cash balance of approximately $288 million, which will help fund the completion of several high-value pivotal clinical trials and the advancement of key milestones in its therapeutic and diagnostic pipeline. The placement was well-supported, reflecting the strong fundamentals of Clarity's business and the progress made across its clinical development programs, including outstanding trial data, validation of new products, and important regulatory objectives. The funds will enable Clarity to work towards the completion of pivotal Phase 3 trials, the planning and submission of a New Drug Application for its 64Cu-SAR-bisPSMA diagnostic program, and the advancement of its theranostic and diagnostic pipeline, including first-in-human trials for its 64/67Cu-SAR-trastuzumab and 64Cu-SAR-bisFAP products. The placement also supports Clarity's strategic manufacturing expansion and global commercial team buildout for the potential launch of 64Cu-SAR-bisPSMA.

Clarity expects to complete enrolment in the AMPLIFY (Phase 3, biochemical recurrence) and CLARIFY (Phase 3, pre-prostatectomy) trials for its 64Cu-SAR-bisPSMA diagnostic program in prostate cancer by Q4 CY2025 and H1 CY2026, respectively. The company also anticipates completing enrolment in the SECuRE (Phase 2, Cohort Expansion) trial for its 64/67Cu-SAR-bisPSMA theranostic program in prostate cancer by Q1 CY2026.

Clarity is well-positioned to progress its clinical development programs, including the completion of pivotal Phase 3 trials, the planning and submission of a New Drug Application for its 64Cu-SAR-bisPSMA diagnostic program, and the advancement of its theranostic and diagnostic pipeline. The successful placement strengthens Clarity's balance sheet, enabling the company to work towards its goal of better treating people with cancer.