AB Science announces the successful completion of a EUR 2.8 million private placement

Core Viewpoint - AB Science has successfully completed a private placement raising EUR 2.8 million to finance the clinical development of its drug candidate AB8939 for acute myeloid leukemia (AML) [2][4]. Use of Proceeds - The net proceeds from the private placement will primarily be used to complete phase 1 of the AB8939 program and to initiate an expansion study involving approximately 15 AML patients [4][5]. Financial Impact - The private placement strengthens the company's cash position, allowing it to meet its financing needs for 2025 and beyond [5]. Private Placement Details - The private placement involved the issuance of 2,477,877 new ordinary shares, each accompanied by a share warrant (BSA), without preferential subscription rights [6][7]. - The issue price of one ABSA is set at EUR 1.13, reflecting a 24.99% discount to the volume-weighted average price over the preceding three trading days [8][9]. Shareholding Structure - Post-private placement, the company's total share capital will amount to EUR 729,474.72, consisting of 66,184,793 ordinary shares, with potential dilution from the exercise of BSAs [13][15]. Trading Information - The new shares are expected to be admitted to trading on Euronext Paris on October 22, 2025, and will be assimilated to existing shares [18]. Company Overview - AB Science specializes in the research, development, and commercialization of protein kinase inhibitors, targeting diseases with high unmet medical needs [25]. - The lead compound, masitinib, is already registered for veterinary use and is being developed for human medicine across various disease areas [25]. Drug Candidate Information - AB8939 is a synthetic microtubule-destabilizing drug candidate with broad anticancer activity, showing potential to overcome drug resistance commonly seen in chemotherapy [24].