Avacta Group plc (LSE:AVCT) has settled an accelerated payment notice relating to its deferred April 2026 quarterly convertible bond repayment, paying £2.613 million in cash.
The payment comprises £2.4 million of principal together with associated interest and fees. Following the settlement, both quarterly payments that had previously been deferred have now been satisfied.
Avacta also made its scheduled July 2026 payment. Following these repayments, the outstanding principal under the company’s convertible bond has been reduced to £12.0 million.
The remaining principal represents approximately 3.8% of Avacta’s market capitalisation.
More about Avacta Group plc
Avacta Group plc, trading as Avacta Therapeutics, is a clinical-stage life sciences company developing targeted oncology treatments.
Its proprietary pre|CISION® platform uses the tumour-specific protease FAP with the aim of concentrating drug payloads within the tumour microenvironment while limiting exposure to normal tissues.
The company’s pipeline includes AVA6000, a FAP-enabled form of doxorubicin that has shown preliminary activity in salivary gland cancer and soft tissue sarcoma.
Avacta is also developing AVA6103, which incorporates a sustained-release mechanism and is being evaluated in the FOCUS-01 Phase 1 trial.
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