(CercleFinance.com) – NFL Biosciences announced on Friday that it had successfully completed its capital increase for an amount of more than three million euros.
The biopharmaceutical company, which develops botanical medicines to treat dependencies and addictions, indicates that it has benefited from the support of a diversified base of international and French professional investors for an amount of some 2.5 million euros.
The company also obtained 600 million euros from retail investors via the PrimaryBid platform, with an offer oversubscribed 2.3 times for a total expressed amount of 1.4 million euros.
In total, 3.1 million euros were raised at a price of 2.05 euros per share, showing a discount of more than 20% compared to yesterday evening’s closing price.
Following this dilutive fundraising, the stock fell by more than 18% on Friday on the Paris Stock Exchange.
The operation, which will result in the issue of 1.5 million new shares, will however allow NFL to secure its cash flow horizon until the end of the 2nd quarter of 2025, compared to the end of 2024 until now.
The capital should allow it to implement its Phase 3 clinical study on its main drug candidate, NFL-101, for smoking cessation.
The idea is also to set up a licensing partnership ‘under the best conditions’ with a view to advancing the development of NFL-301, a natural medicine for reducing alcohol consumption.
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