The company intends to channel the gross proceeds into its "dabogratinib 3x3" development strategy. This initiative focuses on low-grade upper tract urothelial carcinoma, intermediate-risk non-muscle invasive bladder cancer, and achondroplasia. Remaining funds will support ongoing preclinical drug discovery programs and general corporate operations.

RA Capital Management led the investment round, drawing interest from a broad group of institutional players including Invus, Commodore Capital, BVF Partners, and Janus Henderson Investors. A syndicate of major financial institutions, led by Jefferies, Guggenheim Securities, Cantor, Barclays, and William Blair, is managing the offering under a shelf registration statement filed with the Securities and Exchange Commission.