Kiora Pharmaceuticals Secures $24 Million Private Placement Led by Perceptive Advisors
Kiora Pharmaceuticals closed a private placement raising $24 million in gross proceeds, including $5 million upfront and up to $19 million via milestone-based warrants from Perceptive Advisors and ADAR1 Capital Management. Each share was bundled with four Tranche A-1 warrants and one Tranche A-2 warrant exercisable at $1.94 per share.
1. Private Placement Details
Kiora Pharmaceuticals closed a private placement on April 6, 2026, securing $5.0 million in upfront proceeds and up to $19 million upon warrant exercises for total gross proceeds of $24 million. The sole investors were Perceptive Advisors and ADAR1 Capital Management, with securities priced at market under Nasdaq rules.
2. Warrant Terms and Milestones
Under the agreement, each common share or pre-funded warrant was issued with four Tranche A-1 warrants exercisable at $1.94 and one Tranche A-2 warrant exercisable at the same price. Tranche A-1 warrants have a 9-month term, reduced to 30 days after a strategic transaction, while Tranche A-2 warrants carry a 4-year term, reduced to 30 days upon Phase 3 enrollment.
3. Use of Proceeds and Resale Registration
The company plans to allocate the upfront funding to corporate operations, strategic business development, and ongoing R&D. Kiora has committed to filing a resale registration statement covering the placement shares and warrants to facilitate future trading.