Decoy Therapeutics, Inc. Announces Up to $21 Million Private Placement Financing
Decoy Therapeutics, Inc. has announced the execution of a securities purchase agreement with a healthcare-focused institutional investor for a private investment in public equity financing, which is anticipated to yield approximately $3.5 million in gross proceeds upon closing. The biotechnology company, which specializes in Designable Multi-Antivirals (D-MAVs™), plans to use the net proceeds to support clinical trials for its lead asset.
The financing will consist of $3.5 million in upfront gross proceeds at a purchase price of $5.91 per share from the sale of common stock or pre-funded warrants. Additionally, it includes potential gross proceeds of approximately $3.5 million from a milestone-based Series A warrant, approximately $7.0 million from a Series B warrant, and another $7.0 million from a Series C warrant, contingent on various regulatory approvals and outcomes of clinical trials. The securities involved will be subject to transfer restrictions and were priced according to negotiations between the company and the investors, reflecting the closing share price at the determination date.
The closing of the offering is projected to occur on or around June 29, 2026, pending the fulfillment of customary closing conditions. Curvature Securities LLC is serving as the sole placement agent for the transaction.
The securities related to this offering are being made with an exemption from registration requirements under the Securities Act of 1933 and applicable state securities laws. Consequently, the securities cannot be sold in the United States without a valid registration statement or applicable exemption. Per the terms of a registration rights agreement, the company is committed to filing a registration statement with the U.S. Securities and Exchange Commission covering the resale of the shares within 15 calendar days following the offering's closing.
Decoy Therapeutics focuses on developing innovative antiviral drugs aimed at addressing multiple viral infections, leveraging its proprietary IMP(3)ACT™ platform to facilitate rapid development and integration of new therapeutic options. The company’s lead candidates are intended to target respiratory viruses, increasing efforts to mitigate the impact of viral diseases on public health.