Adlai Nortye shares surge 18.66% after-hours after $140M private placement led by major investors including CEO.

Adlai Nortye surged 18.66% in after-hours trading following the announcement of a $140 million private placement led by Cormorant Asset Management and Columbia Threadneedle Investments, with $55 million subscribed by CEO Yang Lu. The financing, involving 64.6 million Class A shares at $2.1667 per share, was accompanied by a $230 million licensing agreement with ASK Pharm for AN9025 in Greater China. Lucid Capital Markets also initiated a Buy rating with a $11.00 price target, citing de-risking potential for AN9025. The capital raise and strategic partnerships underscore investor confidence in Adlai’s RAS-targeting therapies and global expansion, driving the sharp post-market rally.