- PolyPid (PYPD, Financial) secures $26.7 million through warrant exercises following positive Phase 3 trial results.
- Funds to be used for NDA submission, launch preparations, and working capital.
- New warrants issued at $4.50 per share, representing investor confidence in regulatory prospects.
PolyPid Ltd. (PYPD), a late-stage biopharma company, has secured $26.7 million in funding through the exercise of warrants. This follows the company's successful Phase 3 SHIELD II trial results for D-PLEX???, which showed a statistically significant reduction in surgical site infections (SSIs) and met both primary and all key secondary endpoints.
The funding was achieved through the immediate exercise of 7,626,514 existing warrants at $3.50 per share by current warrant holders. In return, PolyPid will issue an equivalent number of new unregistered warrants exercisable at $4.50 per share for a two-year term. The transaction is expected to close on or around June 18, 2025, subject to customary closing conditions.
The funds raised are earmarked for the submission of a New Drug Application (NDA), launch preparations, and general working capital. This capital infusion is anticipated to extend PolyPid's financial runway beyond the expected FDA approval of D-PLEX???. The new warrants' increased exercise price reflects growing investor confidence in the company's regulatory progress.
