Virax Biolabs shares surge 64.85% after-hours after announcing $5 million private placement to fund operations.

Virax Biolabs Group surged 64.85% in after-hours trading following the announcement of a $5 million private placement involving 12.5 million ordinary shares and preferred investment options at $0.40 per share. The financing, led by H.C. Wainwright & Co., will fund working capital and general corporate purposes, with proceeds expected to close by December 4, 2025. The transaction also includes adjustments to prior preferred investment options, extending their terms and reducing exercise prices, which may enhance investor flexibility. The remaining news events were either unrelated (e.g., Yahoo Finance error) or lacked specific actionable details, leaving the private placement as the primary catalyst for the sharp after-hours rally.