PDS Biotechnology Corporation announced on November 10, 2026, that NantWorks has exercised outstanding warrants to purchase an aggregate of 17,699,115 shares of the Company's common stock. The exercise price for these warrants was $0.22 per share, resulting in gross proceeds of approximately $3.9 million for the Company.
The Company intends to use the net proceeds from this warrant exercise, combined with the net proceeds from a private placement completed in September 2026, to support the advancement of its lead candidate, PDS0301, toward a Phase 3 trial in metastatic colorectal cancer. The funds will also be used to support the Company's partnership strategy for PDS0101 and for general corporate purposes.
The warrants were originally issued in connection with a private placement that closed on September 14, 2026, and raised approximately $11.3 million. The warrants are subject to a 19.9% beneficial ownership limitation, which applies to the holder and its affiliates. As a result, the portion of the exercise that would have caused the holder to exceed this limitation was exercised for pre-funded warrants in lieu of common stock. The pre-funded warrants have an exercise price of $0.00033 per share and do not expire.
The shares of common stock issued upon the exercise of the warrants have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption.
