Theranexus: share price falls after dilutive financing – 01/14/2022 at 12:03

( – Theranexus shares fell by more than 17% on Friday on the Paris Stock Exchange the day after the implementation of a new line of equity financing, with a particularly dilutive effect.

The biopharmaceutical company has announced that it has decided to implement a new line of financing for a maximum total amount of 4.2 million euros over 12 months, via the issue of warrants giving right to subscribe to bonds redeemable in new shares.

This financing aims to provide the company with additional resources to support its growth, while the previous line of financing is soon to come to an end.

These funds should contribute, in particular, to financing the next stages of clinical development on the BBDF-101 program in Batten’s disease, a disorder that begins at school age with loss of vision.

With the issue of 802,996 new shares, a shareholder holding 1% of the company’s capital and not participating in the operation would nevertheless see his stake drop to 0.86%, or 13.59% dilution.

As of December 31, 2021, the company’s available cash amounted to 12.5 million euros compared to 11.2 million a year earlier.

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