Offering consisted solely of common stock
Proceeds expected to fund Phase 2 trial of LTI-03 in IPF through completion and support operations into 2028
AUSTIN, Texas, May 18, 2026 (GLOBE NEWSWIRE) -- Rein Therapeutics, Inc. ("Rein" or the "Company") (NASDAQ:RNTX), a clinical-stage biopharmaceutical company advancing a novel pipeline of first-in-class medicines for orphan pulmonary and fibrosis indications, today announced the closing of its previously announced underwritten public offering of common stock, including the full exercise of the underwriters' over-allotment option. The financing included new and existing healthcare-focused investors, including Adar1 Capital Management LLC, Ikarian Capital LLC, Bios Partners, Stonepine Capital Management, Cable Car Capital LP, and Second Line Capital.
In total, 57.5 million shares were sold at $1.00 per share, resulting in aggregate gross proceeds of $57.5 million, before deducting underwriting discounts and commissions and other expenses.
The transaction included the full exercise of the underwriters' option to purchase an additional 7.5 million shares of common stock to cover over-allotments.
No warrants or other derivative securities were issued to the investors in connection with the financing.
Brian Windsor, Ph.D., Chief Executive Officer of Rein Therapeutics, commented, "We are pleased to have successfully completed this offering, including the full exercise of the over-allotment option. We appreciate the support from both new and existing investors as we continue to advance our Phase 2 RENEW trial of LTI-03 in IPF. This financing strengthens our balance sheet and positions us to execute on our clinical and operational priorities."
Rein intends to use the net proceeds from the offering to:
