Nasus Pharma Ltd. (NYSE: NSRX) has completed a private placement that generated approximately $15.0 million in gross proceeds, the company announced. The financing involved the issuance of 2,695,425 ordinary shares alongside accompanying warrants at $5.565 per share to qualified investors.
The capital infusion will primarily support advancement of the company's NS002 intranasal epinephrine powder product candidate toward pivotal clinical trials and a subsequent New Drug Application submission to the FDA. This funding represents a strategic investment in Nasus Pharma's lead therapeutic candidate, which addresses a significant market need for alternative epinephrine delivery mechanisms.
Beyond the NS002 program, the company intends to allocate portions of the raised capital toward expanding its broader pipeline of intranasal powder-based pharmaceutical candidates. The private placement underscores investor confidence in Nasus Pharma's clinical development strategy and technology platform.