OnKure sold 26,713,636 shares of Class A common stock at $4.15 per share and issued pre-funded warrants for 9,430,959 additional shares at $4.1499 each, raising gross proceeds of approximately $150 million. The private placement was led by Access Biotechnology with participation from new and existing institutional investors and is expected to close on March 31, 2026, subject to customary conditions.

The company will use net proceeds to advance two next-generation PI3Kα pan-mutant-selective inhibitor candidates: OKI-345 for breast cancer and OKI-355 for vascular anomalies. These molecules are designed to selectively target mutant PI3Kα hotspots while sparing wildtype enzyme to improve therapeutic index and reduce class-limiting toxicities, with broad combinability potential alongside standard therapies.

OnKure plans to submit Investigational New Drug applications for OKI-345 and OKI-355 in the first half of 2027. The INDs will enable initiation of clinical studies aimed at demonstrating deep and durable responses in PI3Kα-driven indications, building on insights from the completed PIKture-01 phase 1a/1b trial of OKI-219.

The financing is expected to extend OnKure’s cash runway into 2029, funding preclinical and clinical development through multiple milestones. In conjunction with the transaction, Liam Ratcliffe, M.D., Ph.D., Head of Biotechnology at Access Biotechnology, has been appointed to OnKure’s board of directors to support strategic growth and drug development efforts.