Nasus Pharma Secures $15M Financing to Advance NS002 Pivotal Study
Nasus Pharma raised $15 million through private placement of 2,695,425 ordinary shares and warrants at $5.565 each, with warrants exercisable at $6.53 until two years or 30 trading days after NS002 pivotal study results. Proceeds will fund the pivotal NS002 intranasal epinephrine trial, NDA submission and other pipeline development.
1. Private Placement Completion
Nasus Pharma closed a private placement of 2,695,425 ordinary shares and accompanying warrants at a combined price of $5.565 per share and warrant, generating gross proceeds of $15.0 million before fees. Citizens Capital Markets acted as lead placement agent, with Laidlaw & Company (UK) Ltd. as co-placement agent.
2. Warrant Terms
The issued warrants carry an exercise price of $6.53 per share, are immediately exercisable, and will expire two years from issuance or 30 trading days after announcement of top-line NS002 pivotal study results. The placement price represented a premium to the company’s last closing share price on the NYSE American.
3. Use of Proceeds and Pipeline Advancement
Nasus Pharma will use net proceeds, alongside existing cash and short-term investments, to advance NS002 through its pivotal clinical trial and NDA submission, initiate first-in-human studies for other intranasal powder-based candidates, and support working capital and general corporate purposes.
4. Strategic Focus
The financing strengthens the balance sheet as Nasus Pharma leverages its proprietary powder-based intranasal technology beyond anaphylaxis treatment, targeting rapid, needle-free drug delivery across additional acute medical conditions.