Diabetes device firm Beta Bionics slides on $125 mln stock offering plans

Insulin delivery device maker Beta Bionics' BBNX.O shares were down 6.1% post-market to $18.05 as it seeks an equity raise.

Irvine, California-based BBNX announced a $125 million stock offering.

The company said it intends to use net offering proceeds for general purposes, including costs associated with commercialization of Mint, expansion of manufacturing facilities, R&D and clinical development, among other uses.

JP Morgan, Piper Sandler, Wells Fargo and Leerink are joint bookrunners.

BBNX shares closed up 14.9% at $19.23 on Tuesday, reducing the year-to-date loss to about 37%.

The company said early Monday the U.S. FDA cleared Mint, its transformative patch pump, and expects to commercially launch it in Q1 2027.

Also early Monday, Senseonics SENS.O announced a partnership to integrate its Eversense 365 CGM with BBNX's iLet Bionic Pancreas system.

BBNX has about 45 million shares outstanding for a market cap of about $865 million; it went public in a January 2025 IPO priced at $17.

The average rating of 12 analysts is "buy"; median price target $22, per LSEG.