DBV Technologies, a clinical-stage biopharmaceutical company, has announced the establishment of an at-the-market offering program on Nasdaq.
The program allows for the potential sale of up to $150 million of American Depositary Shares (ADS) representing ordinary shares of the company.
The company intends to use the proceeds for various activities, including advancing product candidates and working capital.
ATM Program Initiation
DBV Technologies filed a prospectus supplement with the SEC to establish the ATM Program for the sale of ADSs.
Proceeds Utilization
The net proceeds from the sales under the program will primarily support activities related to product development and working capital.
Sales Agreement Update
The Company terminated a prior at-the-market program and set terms similar to the new ATM Program.
- The establishment of the ATM Program provides DBV Technologies with a flexible financing option for potential share sales.
- The Company's ability to offer ADSs under the program serves as a funding mechanism for its ongoing and future initiatives.
DBV Technologies' move to establish the ATM Program demonstrates its strategic approach to financing and supporting its business objectives in the biopharmaceutical sector.