Purple Biotech raises $6mln, up to $12mln with short-term warrants.

Purple Biotech has priced a public offering of 5,999,999 ADSs (or pre-funded warrants) and short-term warrants to purchase up to 11,999,998 ADSs at $1.00 per share. The offering includes a $6 million upfront payment and up to an additional $12 million in potential gross proceeds upon exercise of the warrants. The warrants have an exercise price of $1.00 per ADS and will expire in 24 months.

Purple Biotech Ltd. (PPBT), a clinical-stage biotechnology company specializing in overcoming tumor immune evasion and drug resistance, has priced a public offering of up to $18 million. The offering includes 5,999,999 American Depositary Shares (ADSs) and short-term warrants to purchase up to 11,999,998 ADSs, priced at $1.00 per share [1].

The gross proceeds from the offering, before deducting placement agent fees and other expenses, are expected to be approximately $6 million. Additionally, the potential aggregate gross proceeds from the exercise of short-term warrants could reach up to $12 million. The short-term warrants, with an exercise price of $1.00 per ADS, will expire 24 months after issuance [1].

The funds will be used for the development of the company's oncology therapeutic candidates and general working capital. The company's pipeline includes CAPTN-3, CM24, and NT219, each targeting different aspects of tumor immune evasion and drug resistance [1].

The offering is being conducted under a registration statement on Form F-1, filed with the Securities and Exchange Commission (SEC), and is expected to close on or about September 5, 2025, subject to customary closing conditions [1]. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

About Purple Biotech
Purple Biotech Ltd. is a clinical-stage company developing first-in-class therapies that seek to overcome tumor immune evasion and drug resistance. The company’s oncology pipeline includes CAPTN-3, CM24, and NT219. CAPTN-3 is a preclinical platform of conditionally activated tri-specific antibodies that engage both T cells and NK cells to induce a strong, localized immune response within the tumor microenvironment. CM24 is a humanized monoclonal antibody that blocks CEACAM1, supporting tumor immune evasion and survival through multiple pathways. NT219 is a dual inhibitor, novel small molecule that simultaneously targets IRS1/2 and STAT3 [1].

Forward-Looking Statements
Certain statements in this press release are forward-looking and not statements of historical fact. These include statements regarding the completion of the offering, the satisfaction of customary closing conditions, the exercise of short-term warrants, and the anticipated use of proceeds. Forward-looking statements reflect the company's current views and are subject to risks and uncertainties, including market and other conditions, regulatory approvals, and the effectiveness of the company's patents and other protections [1].

References:
[1] https://www.stocktitan.net/news/PPBT/purple-biotech-announces-pricing-of-up-to-18-million-public-lc3y7txzuau8.html