Galapagos NV, of Mechelen, Belgium, said it issued 95,180 new ordinary shares on Nov. 25, 2019, for a total capital increase of €2.7 million (US$2.9 million). Because executive committee members are committed to exercise a minimum number of warrants, CEO Onno van de Stolpe exercised 15,000 warrants and two additional executive committee members exercised an aggregate of 20,000 warrants. Consequently, the company’s reported current share capital of €349.8 million (US$379.3 million), with approximately 64.7 million securities conferring voting rights.
IMV Inc., of Dartmouth, Nova Scotia, said it formed an equity distribution agreement with Piper Sandler & Co. as agent to sell, from time to time, up to $30 million in common shares through at-the-market offerings. IMV said net proceeds will be used, in part, to advance a COVID-19 vaccine candidate. In February, the company reported updated results from an ongoing phase II trial of DPX-Survivac in advanced recurrent ovarian cancer showing the lead candidate was active and well-tolerated, achieving the study’s primary objectives.