Alterity Therapeutics (ASX:ATH) raised about AU$2.1 million capital in the US via an at-the-market facility, according to a Monday Australian filing.
The company received the opportunity to raise the capital based on positive topline results from the phase two trial in multiple system atrophy for its ATH434 drug candidate, the filing said.
ATH434 is designed to inhibit the aggregation of pathological proteins implicated in neurodegeneration, it added.
The company also expects to receive about AU$5.7 million in rebates from the Australian Taxation Office under the government's Research and Development Tax Incentive scheme.
The proceeds will allow it to advance its clinical and regulatory activities.
The firm's shares soared almost 17% in early trading on Monday.
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