PDS Biotechnology (PDSB) agreed to a PIPE financing of up to $22.55 million led by Nant Capital, alongside existing investors.
The PIPE has an Initial Closing of about $11.55 million, expected on or about September 11, 2026, and a Milestone Closing of $11 million tied to submission of a registrational Phase 3 protocol for PDS0301 to the FDA. Initial units combine one common share and a warrant to purchase half a share at $0.2825, or a pre-funded warrant plus half-share warrant at $0.28217, for an expected issuance of 20,875,220 common shares, 20,009,736 pre-funded warrants and 20,442,479 common warrants.
Nant may designate two directors, including Dr. Patrick Soon‑Shiong, while it owns at least 15% of the common stock. The company plans to advance PDS0301 into late-stage development, supported by NCI-led Phase 2 data in MSS/pMMR metastatic colorectal cancer where adding PDS0301 yielded 80% 24‑month survival in 22 patients. Proceeds will repay debt and fund clinical programs and corporate needs.
Milestone $11 million committed upon FDA submission of a registrational Phase 3 protocol for PDS0301
Phase 2 NCI trial showed 80% of 22 MSS/pMMR mCRC patients survived at least 24 months with PDS0301 plus standard care
Nant director rights add two board designees, including Dr. Patrick Soon‑Shiong, while it holds ≥15% of common stock
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