Phaxiam: fewer funds raised than expected

(CercleFinance.com) - Phaxiam raised 7.
8 million euros in its capital increase, almost 23% less than the company had targeted, reflecting the current risk aversion on the Paris stock exchange.

At the end of the subscription period, total demand amounted to around 3.9 million shares, based on a unit price of two euros per new share, representing a subscription rate of around 77%.

Phaxiam had originally wanted to raise ten million euros.

But the uncertainty surrounding the results of the legislative elections has affected the Paris market in recent weeks, and particularly the CAC Mid & Small index, which has fallen by more than 10% in one month.

Phaxiam says it intends to use the funds raised to continue developing its portfolio, in particular with the launch of a phase 2 study in osteoarticular infections on prostheses, scheduled for the first quarter of 2025.

Phaxiam shares, listed on the Paris Bourse, fell by 8% following these announcements.

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