BioVersys AG Partially Exercises Over-Allotment Option Post-IPO

BioVersys AG ( (CH:BIOV) ) has shared an update.

BioVersys AG announced the partial exercise of an over-allotment option following its successful IPO on the SIX Swiss Exchange, resulting in the issuance of an additional 47,862 new shares. This move raised the total gross proceeds to CHF76.7 million, increasing the total number of shares issued to 2,131,195. The IPO is expected to bolster BioVersys’s financial position, allowing it to further its research and development efforts in combating multidrug-resistant bacterial infections, thereby strengthening its industry positioning and offering potential benefits to stakeholders.

More about BioVersys AG

BioVersys AG is a multi-asset, clinical stage biopharmaceutical company based in Basel, Switzerland. It focuses on the research and development of novel antibacterial products targeting serious life-threatening infections caused by multidrug-resistant bacteria. Utilizing its internal technology platforms, BioVersys aims to overcome bacterial resistance mechanisms and address high unmet medical needs in the antimicrobial and microbiome fields. Its advanced programs include treatments for nosocomial infections and tuberculosis, with collaborations involving GlaxoSmithKline and the University of Lille.

YTD Price Performance: 1.01%

Average Trading Volume: 11,705

For a thorough assessment of BIOV stock, go to TipRanks’ Stock Analysis page.