Climb Bio, Inc. (CLYM), a clinical-stage biotechnology company, announced that it has entered into a securities purchase agreement with a select group of investors to sell securities in a private placement for aggregate gross proceeds of approximately $110 million.
As per the private placement terms, the firm is selling an aggregate of 9.48 million shares of common stock at a purchase price of $9.50 per share and, in lieu of common stock, to certain investors, pre-funded warrants to purchase up to 2.10 million shares of common stock at a purchase price of $9.4999 per pre-funded warrant.
Each pre-funded warrant will have an exercise price of $0.0001 per share.
The private placement is expected to close on or about April 29, 2026, subject to customary closing conditions.
The company's development pipeline includes Budoprutug, an anti-CD19 monoclonal antibody for the treatment of B-cell-mediated diseases, and CLYM116, an anti-APRIL monoclonal antibody for the treatment of IgA nephropathy.
CLYM has traded between $1.13 and $10.10 over the last year. The stock closed Monday's trade at $9.51.
CLYM is currently trading at $9.80, up 3.07%.
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