DBV Technologies Unveils New ATM Program for Investor Funding
DBV Technologies Launches At-The-Market Program
DBV Technologies (NASDAQ: DBVT) has recently put into motion an At-The-Market (ATM) offering program, aiming to enhance its financial flexibility. The company, known for its innovative biopharmaceutical solutions for food allergies, aims to raise a total gross amount of up to $150 million through this initiative. The announcement follows the filing of a prospectus supplement with the U.S. Securities and Exchange Commission (SEC).
What is the ATM Program?
The ATM Program allows DBV Technologies to sell its American Depositary Shares (ADS), where each ADS corresponds to five ordinary shares. This program is designed to facilitate sales directly in the market, capitalizing on interest from various investors. Under this program, sales will be conducted as market conditions allow, enabling DBV Technologies to respond dynamically to investor demand.
Sales Process and Structures
Through a sales agreement with Citizens JMP Securities, acting as sales agent, DBV Technologies is prepared to offer these ADSs to eligible investors. The sales strategy will align with typical market practices, ensuring effective price setting based on current market value. This strategic adaptation is meant to optimize proceeds while adhering to established regulatory limits.
Intended Use of Proceeds
The funds raised through the ATM Program are targeted for several pivotal uses. Primarily, they will support the activities surrounding the Biologics License Application (BLA) for VIASKIN® Peanut—a treatment designed for toddlers aged 1-3 suffering from peanut allergies. Additionally, the proceeds will help advance the development of other potential product candidates using DBV's proprietary technology.
A Focus on Innovative Treatment Options
DBV Technologies is dedicated to providing solutions in the realm of food allergies, relying on its epicutaneous immunotherapy (EPIT) approach. This cutting-edge treatment method is aimed at gradually desensitizing individuals to allergens through the application of its VIASKIN® patch. This non-invasive approach seeks to address a significant health issue faced by millions globally.
Current Projects in Development
The company is engaged in several clinical trials, particularly focusing on the VIASKIN® Peanut patch. This treatment is crafted to cater specifically to young children who are at risk of severe allergic reactions. The company aims to modify the immune system’s response to allergens, ultimately improving patient outcomes and quality of life.
Market Impact and Future Strategies
As the ATM Program progresses, DBV Technologies plans to provide regular updates on its capital utilization and developments related to the sale of ADSs. This transparency is crucial for maintaining investor trust and engagement, illustrating DBV's commitment to growth and innovation.
Investment Opportunities
Prospective investors are encouraged to consider DBV’s strategic advancements as they reflect on investment opportunities within the biopharmaceutical sector. The ATM Program provides a novel way for investors to engage with a company that is at the forefront of addressing urgent healthcare challenges, particularly in food allergy treatments.
Frequently Asked Questions
What is the purpose of DBV Technologies' ATM program?
The ATM program is designed to raise funds for bolstering the company's initiatives, particularly for the BLA of the VIASKIN® Peanut patch targeting food allergies.
How does DBV's ATM program work?
The program allows the company to sell ADSs directly in the market as conditions allow, based on investor interest and market prices.
What are the expected uses of the funds raised?
Funds will primarily support the BLA process for the VIASKIN® Peanut patch and further development of the company’s product candidates.
Who can participate in the ATM program?
Eligible institutional and qualified investors as per the terms outlined in the sales agreement can purchase ADSs under the ATM program.
Why is DBV Technologies focusing on food allergies?
Food allergies represent a significant health challenge, especially among young children, and DBV Technologies is committed to developing innovative treatments to address this urgent need.
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