PDS Biotechnology Announces up to $11.1 Million Registered Direct Offering

Core Viewpoint - PDS Biotechnology Corporation has announced a securities purchase agreement to raise approximately $5.3 million through the sale of 5,800,000 shares of common stock at a price of $0.91 per share, with potential additional proceeds of up to $5.8 million from warrants [1][3] Group 1: Offering Details - The offering includes 5,800,000 shares of common stock or pre-funded warrants, with accompanying warrants to purchase an additional 5,800,000 shares at an exercise price of $1.00 per share [1][3] - The offering is expected to close on or about November 12, 2025, subject to customary closing conditions [1] - Craig-Hallum is acting as the exclusive placement agent for the offering [2] Group 2: Use of Proceeds - The net proceeds from the offering are intended for the continuation of the VERSATILE-003 Phase 3 clinical trial, discussions with the FDA for protocol amendments, and other research and development expenses [3] Group 3: Financial Position - As of September 30, 2025, the company reported approximately $26.2 million in cash and cash equivalents, subject to final adjustments [4] Group 4: Regulatory Compliance - The offering is being made pursuant to a "shelf" registration statement on Form S-3, previously filed with the SEC [5] Group 5: Existing Warrants Amendment - The company will amend existing warrants issued in February 2025, reducing the exercise price from $1.50 to $1.00 per share, effective upon the closing of the offering [6] Group 6: Company Overview - PDS Biotechnology is a late-stage immunotherapy company focused on transforming immune responses to target and kill cancers, with a pivotal clinical trial for its lead program in advanced HPV16-positive head and neck squamous cell cancers [8][9]