Core Points - CROSSJECT has completed a €5 million financing round fully subscribed by Vatel Capital, aimed at supporting the development of its injectable product ZEPIZURE for treating epileptic seizures [3][5] - The financing was executed through a reserved issue of convertible bonds with interest rates between 7.5% and 9.5%, convertible at a fixed price of €2.65 per share, representing a conversion premium of 9.8% over a 10-day VWAP and 20.5% over a 20-day VWAP [4][15] - The company is in advanced regulatory development for ZEPIZURE, collaborating with BARDA for Emergency Use Authorization in the U.S. [6][29] Financing Details - The transaction consists of three tranches of convertible bonds totaling €5 million, with varying maturities and interest rates [4][12] - Approximately €4.9 million from this transaction will be used to meet working capital requirements until regulatory objectives for ZEPIZURE are achieved [9] - The company has also secured an additional €11.3 million in R&D funding from BARDA, enhancing financial security for future development stages [7] Regulatory and Development Progress - CROSSJECT is actively submitting data to BARDA and preparing for potential FDA inspections of its production facilities [6] - The company is also advancing its clinical development plan for ZEPIZURE, targeting a second New Drug Application for treating status epilepticus in both adults and children [8] - The net proceeds from the financing will be allocated equally between the development of ZEPIZURE and other R&D activities, including manufacturing investments [9] Share Capital and Dilution Impact - The issuance of convertible bonds could lead to the creation of up to 1,886,790 new ordinary shares, representing approximately 3.52% of the company's share capital on a non-diluted basis [4][15] - The conversion of these bonds may dilute existing shareholders, with potential changes in shareholding percentages outlined in the press release [18][21] - The company is exploring additional financing options to extend its cash runway until it receives initial payments from its U.S. sponsor [9][10] Company Overview - CROSSJECT is a specialty pharmaceuticals company focused on developing emergency medications using its ZENEO® needle-free auto-injector technology [29] - The company is currently in advanced stages of regulatory development for ZEPIZURE, supported by a $60 million contract with BARDA [29][30] - Other products in development include solutions for allergic shocks and adrenal insufficiencies, as well as therapies for various emergency indications [29]

Core Insights - CROSSJECT is advancing the development of ZEPIZURE® Junior, a solution for managing epilepsy crises in children, while also progressing with ZEPIZURE® for adults [2][6]. Company Development - CROSSJECT has completed a clinical echography study involving 90 adults and children aged 2-18 to assess anatomical characteristics relevant to the ZENEO® device's drug delivery system [4]. - The company has successfully calibrated the ZENEO® device for pediatric use, confirming its effectiveness in delivering the drug solution at the appropriate penetration depth [4][9]. - Previous studies indicated that children over 8 years old can effectively use the ZENEO® autoinjector [5]. Market Context - According to the CDC, approximately 456,000 children in the U.S. are diagnosed with active epilepsy, highlighting a significant market need for effective treatment solutions [3]. - CROSSJECT aims to establish ZEPIZURE® as the standard of care for pediatric epilepsy, indicating a strategic focus on this demographic [6]. Financial and Regulatory Aspects - CROSSJECT has a $60 million contract with BARDA to support the development of ZEPIZURE®, which underscores the financial backing for its pediatric initiatives [7][8].

Group 1 - Maxim Group has initiated coverage of CROSSJECT with a BUY recommendation and a target price of €4.00 [2] - The CROSSJECT share price was €1.77 on the date of the research report issuance, May 29, 2025 [3] - CROSSJECT is in advanced regulatory development for ZEPIZURE®, an epileptic rescue therapy, supported by a $60 million contract with BARDA [5][6] Group 2 - CROSSJECT specializes in developing emergency medicines using its needle-free auto-injector ZENEO® platform [5] - The company aims to provide solutions for allergic shocks, adrenal insufficiencies, and other emergency indications [5] - Patrick Alexandre, CEO of CROSSJECT, expressed excitement about the endorsement from Maxim Group and the potential for further developments in the North American market [4]

Core Insights - CROSSJECT is advancing the Emergency Use Authorization (EUA) filing process for ZEPIZURE®, an injectable treatment for epilepsy crises, in collaboration with BARDA [3][5][6] - The company has successfully completed critical aseptic filling steps for ZEPIZURE® and is on track with final assembly and packaging [4][9] - Initial feedback from the FDA is anticipated within one month of the submission, with the final manufacturing data expected to be delivered by June 2025 [5][9] Company Overview - CROSSJECT is a specialty pharmaceuticals company focused on developing emergency medications using its needle-free auto-injector ZENEO® platform [7] - The company has a $60 million contract with BARDA to support the development of ZEPIZURE® [7][8] - Other products in development include solutions for allergic shocks and adrenal insufficiencies, as well as various emergency therapies [7]

Group 1 - The core announcement is that CROSSJECT has made its 2024 annual financial report available to the public and filed it with the French Financial Markets Authority [2][5] - CROSSJECT is a pharmaceutical company specializing in the advanced development and registration of ZEPIZURE®, an emergency solution for managing epilepsy crises [2][3] - The company has secured a $60 million contract from the U.S. Biomedical Advanced Research and Development Authority (BARDA) for the research and development of ZEPIZURE® [3][4] Group 2 - ZEPIZURE® utilizes the award-winning needle-free auto-injector ZENEO®, allowing untrained patients and caregivers to perform intramuscular injections easily and instantly in emergency situations [3] - CROSSJECT is also developing additional products for emergency treatment of allergic shocks, adrenal insufficiencies, opioid overdoses, and asthma attacks [3]