(CercleFinance.com) – Crossject announced last night the success of its capital increase of around eight million euros, mainly intended for the continued development of its needle-free auto-injector against epileptic seizures.
The pharmaceutical company indicates that the operation will result in the issue of more than 4.3 million new shares at a unit price of 1.848 euros, a discount of 10% compared to the closing price of April 30. .
The participation of a shareholder holding 1% of the capital before the operation will be reduced to 0.89%.
Gemmes Venture, historic shareholder representing 24.5% of the capital, has given its support to the operation, by exercising 100% of its rights, which will allow it to maintain 24.5% of the capital following the operation.
‘This capital increase aims to support the development of Zepizure (indirect costs because the direct costs are borne by Barda)’, underline Oddo BHF analysts.
Did Crossject indeed win? a 60 million dollar contract with the authority? American around Zepizure, its emergency treatment in the management of epileptic seizures.
The company anticipates a positive response from the FDA as part of the emergency procedure during the first quarter of 2025 and, at the same time, a submission of a marketing authorization application during the first half of the year. 2025.
‘At the current valuation level, the market is completely ignoring the Barda agreement, which seems severe while the home stretch does not present any major obstacle,’ say the Invest Securities teams.
The stock limited its decline to around 1.6% on Wednesday morning after the fundraising.
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