On Tuesday, Acticor Biotech announced its intention to launch a capital increase of around 2.6 million euros at a significant discount to the stock market price.

The biotech company plans to issue 850,360 new shares at a unit price of three years, representing an 18.5% discount to last night's closing price.

This announcement caused the share price of the specialist in the treatment of cardiovascular emergencies to plunge, losing over 22% on Tuesday morning and posting by far the biggest drop on the Paris market.

The funds raised will enable the company to strengthen its financial structure and finance its operations until May 2024.

The company mainly plans to use the proceeds to finance the completion of the clinical study on glenzocimab in the emergency treatment of stroke, up to the results expected in the second quarter of 2024.

In a press release, Acticor states that its financing requirements to meet its obligations over the next 12 months are estimated at around eight million euros.

This means that the company will have to look for other sources of debt or equity financing, or carry out partnership or M&A transactions from the first quarter of 2024, in order to finance its operating expenses beyond the second quarter of 2024.

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