Vyome shares fall 10.28% intraday as 15% dilution from $5.29M ATM funding spooks investors.

Vyome Holdings (Nasdaq: HIND) fell 10.28% intraday following the announcement that it raised $5.29 million via an at-the-market offering to fund its VT-1953 Phase 3 trial, which included 15% dilution for shareholders. While the company emphasized minimal dilution compared to rejected alternatives with warrants, the move highlighted ongoing financial stress, with Vyome reporting a $9.2 million Q3 2025 net loss and a $10.84 million market cap. The stock’s sharp decline reflects investor concerns over the 15% dilution, weak liquidity despite $9.5 million in cash, and a distressed Altman Z-Score of -18.41, underscoring skepticism about the $1 billion independent valuation of VT-1953 and the company’s ability to execute its clinical timeline. The funding, while necessary, reinforced perceptions of financial instability and long-term risk.