BiomX Inc. (PHGE), a microbiome-based therapeutic developer, is trading 91% higher in pre-market after Pyu Pyu Capital LLC disclosed a significant equity position in the company through a Scheduled 13D filing with the U.S. Securities and Exchange Commission.
According to the filing, Pyu Pyu Capital and its managing member, Reuven Yeganeh, have acquired 381,422 shares of BiomX common stock, representing 19.99% beneficial ownership. The stake was obtained through a previously executed securities purchase agreement dated December 26, 2025.
Under the agreement, BiomX issued 3,300 shares of Series Y Convertible Preferred Stock to Pyu Pyu Capital, along with warrants to purchase 3,300,000 shares of common stock. The preferred shares are convertible into common stock at $2.00 per share, and the warrants are exercisable at the same price. The preferred stock carries a 15% annual dividend and matures one year from issuance.
The filing also notes that Pyu Pyu Capital has the right to designate one member to BiomX's Board of Directors, with the potential to appoint a second director if its ownership exceeds 19.99% subject to shareholder approval. The agreement includes customary standstill and voting provisions.
BiomX, which focuses on developing phage-based therapies targeting chronic diseases such as cystic fibrosis and inflammatory bowel disease, has faced liquidity challenges in recent quarters. The company ended September 30, 2025, with a cash balance of $8.1 million, which is expected to fund operations into the first quarter of 2026.
PHGE has traded between $1.5 and $22.05 over the past year. The stock is currently trading in the pre-market at $7.86, up 91.71%.
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