ExonHit Therapeutics greenshoe fully exercised

By Jennifer Chiou

New York, Dec. 7 - ExonHit Therapeutics announced it issued 172,500 new shares after bookrunner Société Générale fully exercised an over-allotment option, increasing the initial public offering to €7.9 million for 1,681,061 shares.

The amount includes capital increases reserved for bioMérieux and ExonHit's employees.

In its IPO, ExonHit said it sold 539,268 shares at €2.89 each with a 115,000-share greenshoe. The offering included an extension clause for 35,000 shares.

On Nov. 17, the company placed 1.3 million shares in an oversubscribed offering for proceeds of €3.8 million.

The company is listing on Alternext, the Euronext market dedicated to small and medium-size companies.

The company said it is already generating revenues from a new generation of microarrays in alternative splicing. ExonHit is also developing its own therapeutic pipeline in the field of neurodegenerative diseases and cancer.

Paris-based ExonHit is a biotechnology company focused on discovery in pharmaceuticals and diagnosis.

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