Idorsia launches an offering of registered shares – to fund the company to overall profitability

Core Viewpoint - Idorsia Ltd plans to offer approximately 15 million registered shares through an accelerated bookbuilding process to enhance its financial stability and support the commercial growth of its product QUVIVIQ, while extending its operating cash runway into 2028 [1][2][8] Offering Details - The offering will consist of around 15 million shares with a par value of CHF 0.05 each, sourced from Idorsia's existing capital band and treasury shares, without subscription rights for existing shareholders [4][6] - The final offer price and number of shares will be determined through a bookbuilding process, expected to conclude before market opening on October 10, 2025 [5] - Newly issued shares are anticipated to be listed on the SIX Swiss Exchange on October 13, 2025, with payment and settlement expected on October 14, 2025 [5] Financial Implications - Net proceeds from the offering will be utilized to accelerate the commercial trajectory of QUVIVIQ towards profitability in 2026, advance a de-risked pipeline, and strengthen Idorsia's balance sheet [3][9] - Idorsia reaffirms its financial guidance for 2025 and is exploring refinancing options for its New Money Facility due in mid-2027 [3] Shareholder Participation - Founding shareholders Jean-Paul and Martine Clozel have committed to purchase Offer Shares for up to CHF 10 million and will adhere to a 180-day lockup period following the listing of the new shares [6]