Clarity Pharmaceuticals shares surge on production deal
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The news: Clarity Pharmaceutical shares soared after it signed a commercial-scale production agreement with Nusano for its radioactive isotope copper-64, which is used in cancer treatment and diagnostic imaging.
The numbers: Clarity shares had surged 12.02% to $1.88 by late afternoon trade and it was the best performing stock across the ASX 200. However, over the last 12 months its shares have dropped 30.04%.
The deal will see US-based Nusano produce 18,000 patient doses per day with production set to commence in early 2026. Clarity executive chair Alan Taylor said the production would ensure “abundant and seamless supply of the isotope”.
The context: Clarity also announced it had received an $11.1 million research and development tax incentive refund as part of the Australian government’s R&D tax incentive program. The funding will be used for further development of its targeted copper theranostic platform of products.
What they said: “Our goal is to take radiopharmaceuticals to the next level by building a reliable and accessible supply that is consistent with the big pharma oncology model and deliver advantages to patients, their treating clinicians and imaging site,” Taylor said.
