Biophytis completes €5.3 million private placement to fund Phase 2 obesity trial
BPTS•Use of proceeds and cash runway
Proceeds are earmarked to fund the Phase 2 OBA obesity trial, extending cash runway to at least Q1 2028.
Shares outstanding rise to 350,132,497 post-offering, with €8.9 million in cash and cash equivalents.
Private placement terms and warrants
Biophytis priced a €5.3 million private placement of new shares with attached warrants, including €4.75 million cash and €0.55 million debt rollover.
The company issued 101,923,092 new shares at €0.05 each, a 24.1% discount to the 10-day volume-weighted average price. The placement also included 127,403,865 warrants exercisable at €0.06 per share within 60 months.
