ProQR Therapeutics announced an underwritten direct offering and a concurrent private placement with Eli Lilly, expecting total gross proceeds of $59 million. The direct offering involves 27,624,810 ordinary shares at $1.10 per share for estimated gross proceeds of $50 million, while the private placement with Eli Lilly covers 5,100,780 ordinary shares at the same price for expected gross proceeds of $9.2 million. Both transactions are anticipated to close on June 26, 2026, with proceeds earmarked for research and clinical development, working capital, and general corporate purposes. Shares fell over 20% on Thursday, closing at $1.44.
Eli Lilly and CompanyEli Lilly is participating in a private placement at a discount, but the news is about ProQR's financing, not Lilly's core business; the placement may dilute Lilly's investment value.
ProQR Therapeutics BV