Rein Therapeutics closes $57.5 million stock offering

Rein Therapeutics Inc. (NASDAQ: RNTX) completed its underwritten public offering of common stock, raising $57.5 million in gross proceeds before fees and expenses, according to a company statement.

The clinical-stage biopharmaceutical company sold 57.5 million shares at $1.00 per share. The transaction included the full exercise of underwriters' over-allotment option to purchase an additional 7.5 million shares.

The offering consisted solely of common stock with no warrants or derivative securities issued. Investors included Adar1 Capital Management LLC, Ikarian Capital LLC, Bios Partners, Stonepine Capital Management, Cable Car Capital LP, and Second Line Capital.

Rein plans to use proceeds to fund its Phase 2 clinical trial of LTI-03 for idiopathic pulmonary fibrosis through completion, support clinical development and manufacturing activities, and fund general corporate purposes. The company stated the proceeds, combined with existing cash, will fund operations into the first quarter of 2028.

"This financing strengthens our balance sheet and positions us to execute on our clinical and operational priorities," said Brian Windsor, chief executive officer.

The securities were offered under a registration statement filed with the Securities and Exchange Commission, which became effective April 30, 2026. LTI-03 is a synthetic peptide targeting alveolar epithelial cell survival and has received Orphan Drug Designation in the United States.

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