Edesa Biotech, Inc. (EDSA), a clinical-stage biopharmaceutical company focused on developing host-directed therapeutics for immuno-inflammatory diseases, announced on Wednesday that it has commenced an underwritten public offering of its common shares, or pre-funded warrants in lieu thereof, along with accompanying warrants to purchase common shares.
The company did not disclose the size, pricing or expected proceeds of the offering. Edesa expects to grant underwriters a 30-day option to purchase additional common shares, or pre-funded warrants, and accompanying warrants representing up to 15% of the total securities offered.
The company intends to use the net proceeds for general corporate purposes, including working capital, capital expenditures, research and development, and manufacturing expenses.
Edesa said the offering is subject to market and other conditions, and there can be no assurance as to whether or when it will be completed or the final size and terms.
Guggenheim Securities is acting as the sole book-running manager for the proposed offering.
As of June 30, 2026, Edesa had cash and cash equivalents of $10.33 million and working capital of $6.9 million.
EDSA closed the stock at $5.75, up 0.70%. In the overnight market, stock is trading down 20% at $4.60.
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