Alligator Bioscience's Rights Issue: A Boost for Long-Term Value Creation

Alligator Bioscience (ATORX), a clinical-stage biotechnology company focused on immuno-oncology, has announced the final outcome of its rights issue. The Rights Issue, which aimed to raise funds to support the development of its lead asset mitazalimab and other pipeline candidates, was subscribed to approximately 54.4 percent with and without the exercise of unit rights. This outcome indicates a strong level of investor interest and support for the company's long-term growth prospects.

The Rights Issue comprised a maximum of 2,810,919,873 units, each consisting of ten (10) ordinary shares, ten (10) warrants series TO 12, and five (5) warrant series TO 13. The final count shows that 1,529,646,926 units were subscribed for, corresponding to approximately 54.4 percent of the Rights Issue. Of these, approximately 50.8 percent were subscribed for by exercise of unit rights, and approximately 3.6 percent were subscribed for without the exercise of unit rights. This means that no guarantee commitments will be utilized, and Alligator Bioscience will initially receive approximately SEK 153 million from the Rights Issue before issue costs, repayment of bridge loans, and repayment of outstanding loans and convertibles to Fenja Capital II A/S.

The positive outcome of the Rights Issue reflects the company's recent progress and the potential of its pipeline. Alligator Bioscience has reported positive clinical and biomarker results from the Phase 2 trial OPTIMIZE-1 for mitazalimab, a potentially groundbreaking treatment for metastatic pancreatic cancer. Additionally, the company has sharpened its focus on mitazalimab and implemented a cost-reduction program to maximize long-term value creation. These strategic moves, along with the sale of future financial commitments for two bispecific antibodies to Orion Corporation, have contributed to the strong investor demand for the Rights Issue.



The Rights Issue provides Alligator Bioscience with the necessary funds to continue its progress in developing mitazalimab and other pipeline candidates. The company's focus on maximizing long-term value creation, combined with its positive clinical results and strategic partnerships, positions it well for future growth and success in the competitive biotechnology landscape.

In conclusion, Alligator Bioscience's Rights Issue has been successfully subscribed to, with a final outcome of approximately 54.4 percent with and without the exercise of unit rights. This positive result reflects the company's recent progress and the potential of its pipeline, and provides it with the necessary funds to continue its development efforts. As the company continues to execute its strategic plan, investors can expect to see further progress and value creation in the coming years.