Adlai Nortye shares surge 25.88% intraday after $140M private placement led by Cormorant, Columbia Threadneedle, and CEO's $55M investment.

Adlai Nortye (ANL) surged 25.88% intraday following the announcement of a $140 million private placement led by institutional investors including Cormorant Asset Management and Columbia Threadneedle, alongside a $55 million investment from CEO Yang Lu. The financing, priced at $2.1667 per share, provided capital to advance its RAS-targeting cancer therapies and expand its pipeline. Concurrently, a $230 million licensing agreement with ASK Pharm for AN9025 in Greater China bolstered market optimism, positioning the company to expand its therapeutic reach. Lucid Capital Markets’ initiation of coverage with a $11.00 price target further reinforced investor confidence. The combination of strategic capital raising, executive backing, and international licensing milestones drove immediate bullish momentum in intraday trading.