Latest news with #EUA
Yahoo
6 days ago
- Business
- Yahoo
Launch of a capital increase with preferential subscription rights for nearly 5 million euros
Press release Launch of a capital increase with preferential subscription rights for nearly 5 million euros Issuance of new shares for an initial total amount of around €5.0 million, with shareholders maintaining their preferential subscription rights (DPS), which may be increased to around €5.7 million if the extension clause is exercised (the 'Offer'). Intentions and commitment to subscribe by existing shareholders and Vatel Capital, as a new institutional investor, for a total amount of approximately 3.7M€, already representing 76,4% of the transaction. Subscription price for the new shares set at €1.40, representing a 22.6% discount to the closing price of the CROSSJECT share on June 3, 2025 (€1.808) and a 21.3% discount to the theoretical value of the CROSSJECT share ex-rights. Subscription period from June 12, 2025 to June 20, 2025 included. Dijon, France 4 June 2025 (8.10 PM CET) -- CROSSJECT (ISIN: FR0011716265; Euronext: ALCJ), the specialty pharma company in advanced phases of development and registration of ZEPIZURE®, launches a capital increase with preferential subscription rights ('DPS'), for an initial total amount of 4,978,678.60 euros ('the Offer'), which may be increased to 5,725,479.20 euros if the extension clause is exercised. Objectives of the capital increase As announced on May 7 and May 20, CROSSJECT continues to focus on the preparation of the EUA submission to the FDA, and remains on schedule to finalize production of the validation batches in June. CROSSJECT will transfer these data as the final addition into the ZEPIZURE® EUA submission platform. CROSSJECT expects a first confirmation of receipt from the FDA one month after submission. In addition, CROSSJECT has started a first manufacturing cycle of EUA batches, intended for the first delivery of the CHEMPACK program as part of the US national preparedness against chemical threats, in agreement with its American partner, the Biomedical Advanced Research and Development Authority (BARDA). CROSSJECT also continues to allocate a significant portion of its resources to its infrastructure in the United States and to its other product candidates. As planned, CROSSJECT is pursuing the other stages in the development of ZEPIZURE® for its second NDA filing in the second quarter of 2026, as well as developments relating to ZENEO Adrenaline and ZENEO Hydrocortisone. The Company intends to use the net proceeds of the issue as follows: - Approximately 60% will be allocated to the final development phases of ZEPIZURE® and the start-up of the initial production stages, including the building up of related inventories, prior to any reimbursement by its American partner; - Approximately 40% will be used to finance R&D for its other projects, ZENEO® Adrenaline and ZENEO® Hydrocortisone, to repay certain financial creditors, and to cover general and administrative expenses and corporate development costs, particularly in the United States. In the event of the Offer being limited to 75% of the issue, i.e. around 3.7 million euros, CROSSJECT will allocate the net proceeds to the above activities on a prorata basis, giving priority to activities linked to the registration and production of ZEPIZURE®. With the net proceeds of the issue, the Company estimates that its net working capital would be sufficient to meet its obligations until the end of 2025, assuming the first payments from its American partner following the first deliveries. In order to preserve its financial flexibility and ensure its cash position in 2025 until receipt of these first payments, expected from the third quarter, the Company continues to study dilutive and non-dilutive financing alternatives. The Company could also receive additional funds from the exercise of the warrants issued on December 13, 2024, up to a maximum amount of around €10.2 million, to meet additional financing needs. Future payments from its US partner beyond 2025 will be a major contribution to the Company's financing needs. Terms and conditions of the capital increase Nature and legal framework of the transaction The capital increase involves the issue of new shares with maintenance of the shareholders' preferential subscription rights. The CEO, acting on the basis of the 7th and 13th extraordinary resolutions of the Combined General Meeting of June 27, 2024, in accordance with the authorization granted to him by the Supervisory Board on May 19, 2025, and pursuant to the sub-delegation granted to him by the Executive Board on May 19, 2025, decided on June 4, 2025 to carry out a capital increase through the issue of ordinary shares with preferential subscription rights, the terms of which are detailed in this press release. Share capital – Number of shares issued CROSSJECT's share capital comprises 46,230,596 fully subscribed and paid-up shares with a par value of €0.1 each, listed on the Euronext Growth market of Euronext Paris. Based on the number of shares currently outstanding, 3,556,199 new shares will be issued (which may be increased to 4,089,628 new shares if the extension clause is exercised), on the basis of 1 new share for every 13 existing shares held (13 preferential subscription rights will entitle the holder to subscribe for 1 new share). The initial issue of 3,556,199 new ordinary shares with a par value of €0.1, at a price of €1.40 each, would represent a capital increase of a nominal amount of €355,619.90, together with a share premium of €4,623,058.70, giving gross proceeds of €4,978,678.60. Extension clause In the event of oversubscription and full exercise of the extension clause, the number of ordinary shares that could be issued would be increased to 4,089,628 shares, representing a capital increase of a nominal amount of €408,962.80 and a share premium of €5,316,516.40, i.e. gross proceeds of €5,725,479.20. Subscription price The subscription price per new share is €1.40, and must be fully paid up in cash at the time of subscription. The issue price of €1.40 per share represents a discount of 22.6% to the closing price of the CROSSJECT share on June 3, 2025 (€1.808) and a discount of 21.3% to the theoretical value of the CROSSJECT share ex-rights. The issue price represents a discount of 22,6% and 19,2% compared to the closing price on June 3, 2025, the 30 day weighted average trading price respectively and a premium of 3,3% over the 60 day weighted average trading price. Subscription terms Subscription opening and closing dates from June 12, 2025 to June 20, 2025 inclusive. Subscriptions on an irreducible basis Subscription of the new shares is reserved by preference for existing shareholders, or assignees of their preferential subscription rights, who may subscribe on an irreducible basis, at the rate of 1 new share for 13 preferential subscription rights, without taking fractions into account. Shareholders or assignees of their preferential subscription rights who do not hold a sufficient number of existing shares or preferential subscription rights to obtain a whole number of new shares may buy or sell the number of preferential subscription rights needed to reach the multiple leading to a whole number of new shares. Subscriptions on a reducible basis Shareholders will have the right to subscribe for shares on a reducible basis, in proportion to their rights and up to the number of shares they request. At the same time as they submit their irreducible subscriptions, shareholders or assignees of their rights may subscribe for as many new shares as they wish, in addition to the number of new shares resulting from the exercise of their irreducible rights. Any new shares not taken up by irrevocable subscriptions will be distributed and allocated to reducible subscribers. Subscription orders on a reducible basis will be served up to the limit of their numbers. A notice published by Euronext will make known, where applicable, the allocation scale for subscriptions on a reducible basis. Exercise of preferential subscription rights To exercise their preferential subscription rights, holders must submit a request to their authorized financial intermediary at any time between June 12, 2025 and June 20, 2025 inclusive, and pay in full the amount of their subscription. Each subscription must be accompanied by a payment of the subscription price in cash or by offsetting liquid and due claims on the Company. Subscriptions that have not been paid up in full will be cancelled, without the need for formal notice. Preferential subscription rights not exercised by the close of the subscription period will automatically lapse. Preferential subscription rights must be exercised by their beneficiaries, at risk of being cancelled before the end of the subscription period, i.e. June 20, 2025. Listing of preferential subscription rights The preferential subscription rights will be detached on June 10, 2025 for the benefit of holders of existing shares recorded in their securities account at the end of the accounting day of June 9, 2025, on the basis of one preferential subscription right per existing share of the Company. They will be listed and traded on Euronext Growth under ISIN code FR00140100I2 from June 10, 2025 to June 18, 2025 included. Theoretical value of the preferential subscription right €0.03 based on the closing price of the Company's shares on June 3, 2025, i.e. €1.808. The subscription price of €1.40 per share represents a discount of 21.30% to the theoretical value of the share after detachment of the right. Paying agents - Subscription payments Funds paid in support of cash subscriptions will be centralized by Crédit Industriel et Commercial (CIC Market Solutions - Émetteur Adhérent Euroclear n°025) 6 avenue de Provence 75452 Paris Cedex 9. Preferential subscription rights detached from treasury shares held by the Company In accordance with article L. 225-210 of the French Commercial Code, the Company may not subscribe for its own shares. Preferential subscription rights detached from shares owned by the Company will be sold on the market before the close of the preferential subscription rights trading period. Free subscription requests In addition to the possibility of subscribing on an irreducible and reducible basis in accordance with the terms and conditions set out above, any individual or legal entity, whether or not holding preferential subscription rights, may subscribe to this capital increase on an unrestricted basis. Persons wishing to subscribe on a voluntary basis must send their request to Crédit Industriel et Commercial (CIC Market Solutions - Émetteur Adhérent Euroclear n°025) 6 avenue de Provence 75452 Paris Cedex 9, OR to their authorized financial intermediary at any time during the subscription period and pay the corresponding subscription price. In accordance with the provisions of Article L. 225-134 of the French Commercial Code, unrestricted subscriptions will only be taken into account if the irreducible and reducible subscriptions have not absorbed the entire capital increase, it being specified that the Executive Board will have the option of freely allocating the unsubscribed shares, in whole or in part, among the persons (shareholders or third parties) of its choice who have made unrestricted subscription requests. Indicative timetable for the operation The table below sets out the expected timetable for the transaction as at the date of this press release: June 4, 2025 Decision by the Chairman of the Executive Board to carry out a capital increase with preferential subscription rights, and to set the terms and conditions of the transaction. Press release announcing the transaction June 6, 2025 Publication of the information notice in the BALO June 10th 2025 Detachment of preferential subscription rights and start of trading of preferential subscription rights on Euronext Growth Paris June 12th, 2025 Opening of the subscription period June 18, 2025 End of DPS trading period June 20, 2025 End of subscription period june 24, 2025 Decision to exercise the extension clause Press release announcing the results of the Offer june 25, 2025 Publication by Euronext Paris of the notice of admission of the final amount of the capital increase and the allocation scale for subscriptions subject to reduction (reducible basis) june 27, 2025 Issue and settlement of new shares Admission and start of trading of the new shares on Euronext Growth Paris The above timetable will be followed by the regulatory publications of the new total number of shares and the usual legal formalities. Undertaking by the Company to refrain from trading in the Company's shares and lock-up agreement The Company has entered into a lock-up agreement for a period expiring 90 calendar days following the settlement-delivery date of the new shares, subject to certain customary exceptions. Commitment and subscription intentions The holder of convertible bonds (OCAs) affiliated with Heights Capital Management, Inc ("Heights") has indicated its intention to subscribe to the proposed capital increase by offsetting against its claim of 555,645 euros corresponding to the cash redemption of the final maturity date of the convertible bonds of April 28, 2025, representing 11.1% of the capital increase (excluding the exercise of the Extension Clause). Under the terms of a subscription undertaking signed on June 4, 2025, Vatel Capital ("Vatel Capital"), an investor who was not a shareholder at the date of this press release, has irrevocably undertaken to subscribe to the capital increase on an irreducible and reducible basis for a total amount of 2,000,000 euros, representing 40.1% of the capital increase (excluding the exercise of the Extension Clause). In accordance with its intention announced on May 20, 2025, Gemmes Venture, the Company's reference shareholder, has undertaken to underwrite the Offer up to the amount necessary for its completion (i.e. 75% of the initial issue amount). In order to enable Heights and Vatel Capital to participate in the issue, Gemmes Venture has also undertaken to sell its DPS for a price of 1 euro per block of DPS to Heights and Vatel Capital1 . At the same time, Gemmes Venture will subscribe to the planned capital increase on an irreducible basis for the balance of its preferential subscription rights, i.e. 276,068, and on a reducible basis for an amount equivalent to what it would have obtained by exercising its preferential subscription rights, i.e. a total amount of 1,250,000 euros, representing 25.1% of the capital increase (excluding the exercise of the Extension Clause). In total, the intentions and commitments of these two existing shareholders and of Vatel Capital to subscribe for the shares on an irreducible and reducible basis represent 3,805,645 euros, or 76.4% of the planned capital increase (excluding the extension clause). Guarantee The offer will not be subject to a performance guarantee within the meaning of article L.225-145 of the French Commercial Code. Ownership date and listing of the new shares The new shares, which will be subject to all the provisions of the Articles of Association, will be created with dividend rights. They will be assimilated to existing shares as soon as they are issued. They will be the subject of an application for admission to trading on Euronext Growth. They will be listed on the same line as existing shares and will be fully assimilated to them as soon as they are admitted for trading. Settlement-delivery and admission of the new shares to trading on Euronext Growth Paris is scheduled for June 27, 2025. Undertaking to retain shares None. Impact of the capital increase on shareholders' equity per share The table below summarizes the dilutive impact of the capital increase in euros on shareholders' equity per share under different dilution scenarios linked to the issue: Impact on shareholders' equity in euros per share Non-diluted basis Primary diluted basis(a) Total diluted basis with conversion/amortisation of OCAs(b) Case 1 Case 2 Before issue of new shares -0,05 € 0,16 € 0,27 € 0,25 € After issue of 3,556,199 new shares (100% of the Offer) 0,06 € 0,24 € 0,34 € 0,32 € After issue of 2,667,150 new shares (i.e. 75% of the Offer in the event of limitation) 0,03 € 0,22 € 0,32 € 0,30 € After issue of 4,089,628 new shares (i.e. 115% of the Offer in the event of exercise of the extension clause) 0,07 € 0,25 € 0,35 € 0,33 € (a) Reflects the dilution of : 950,700 shares allocated free of charge by the Company during the vesting period 3,635,556 BSAs issued in December 2024 may give the right to subscribe for a total of 4,544,445, shares at a price of €2.25 per share (four BSAs giving the right to subscribe for five ordinary shares). (b) Reflects the exercise of the bonds convertible into new shares and redeemable for shares (OCAs) issued on February 28, 2024 and February 7, 2025, in accordance with the terms and conditions set out below. The dilution cases relating to the OCAs are based on the assumptions set out below: Case 1 In the event of conversion of all the OCAs at the conversion price of 1.677 euros (subject to adjustment)The Company does not redeem any shares. Case 2 The OCA holder chooses not to convert any OCAs into Company elects to redeem all the OCAs in shares, and the redemption1 euro (subject to the investor holding 9.99% of the Company's capital). Common assumptions Calculations based on the number of shares making up the Company's share capital at the date of this press release, i.e. 46,230,596 shares. The holder of the convertible bonds never holds more than 9.99% of the Company's share capital at each conversion or redemption into shares. Impact of the capital increase on the situation of shareholders who do not subscribe to the transaction For information purposes, the impact of the capital increase on the situation of a shareholder holding 1% of CROSSJECT's share capital prior to the capital increase and not subscribing to it would be as shown below. Shareholding of a shareholder holding 1% of the capital prior to the offer Non-diluted basis Primary diluted basis(a) Total diluted basis with conversion/amortisation of OCAs(b) Case 1 Case 2 Before issue of new shares 1,00 % 0,89% 0,82% 0,78% After issue of 3,556,199 new shares (100% of the Offer) 0.93% 0.84% 0,77% 0,73% After issue of 2,667,150 new shares (i.e. 75% of the Offer in the event of limitation) 0,95% 0,85% 0,78% 0,74% After issue of 4,089,628 new shares (i.e. 115% of the Offer in the event of exercise of the extension clause) 0,92% 0,83 0,77% 0,73% (a) Reflects the dilution of : 950,700 shares allocated free of charge by the Company during the vesting period 3,635,556 BSAs issued in December 2024 may give the right to subscribe for a total of 4,544,445 shares at a price of 2.25 euros per share (four BSAs giving the right to subscribe for five ordinary shares). (b) Reflects the cases of exercise of the Bonds Convertible into New and Redeemable Shares (OCAs) issued on February 28, 2024 and February 7, 2025, in accordance with the terms specified above. CROSSJECT is being advised in this transaction by D'Hoir Beaufre Associé Market Solutions is acting as Lead Manager and Bookrunner. Risk factors relating to the Offer Shareholders who do not exercise their preferential subscription rights will see their stake in the Company's capital diluted; The market for preferential subscription rights may offer only limited liquidity and be subject to high volatility; The market price of the Company's shares could fluctuate and fall below the subscription price of the new shares from the announcement of the offer, during the subscription period or at any time after the close of the offer; The volatility and liquidity of the Company's shares could fluctuate significantly; In the event of a fall in the market price of the Company's shares, preferential subscription rights could lose their value. Shareholders could see their interest in the Company's share capital diluted in the event of a new public offering. Issuer risk factors The Company draws the public's attention to the risk factors relating to its activities presented in section 8. Analysis of business trends in relation to the volume and complexity of business in its 2024 annual report, online on the Company's website ( and in notes 3. a) "Going concern" and 27 "Events after the period-end" to the 2024 annual financial statements. Warning Insofar as the amount of the Offer is less than €8 million (calculated over a 12-month period), the planned issue will not give rise to a prospectus approved by the AMF. About CROSSJECT CROSSJECT SA (Euronext: ALCJ; is an emerging specialty pharmaceuticals company developing medicines for emergency situations harnessing its award-winning needle-free auto-injector ZENEO® platform. CROSSJECT is in advanced regulatory development for ZEPIZURE®, an epileptic rescue therapy, for which it has a $60 million contract* with BARDA. The Company's versatile ZENEO® platform is designed to enable patients or untrained caregivers to easily and instantly deliver a broad range of emergency drugs via intramuscular injection on bare skin or even through clothing. The Company's other products in development mainly include solutions for allergic shocks and adrenal insufficiencies, as well as therapies and other emergency indications. * This project has been supported in whole or in part with federal funds from the US Department of Health and Human Services; Administration for Strategic Preparedness and Response; BARDA, under contract number 75A50122C00031. *** For further information, please contact: Investor Relationsinvestors@ 1 Gemmes Venture will sell 3,741,536 preferential subscription rights to Heights for a price of 1 euro, to enable it to subscribe to the planned capital increase on an irreducible basis, by offsetting its entire claim (taking into account the preferential subscription rights already held by Heights).Gemmes Venture will also sell 7,301,880 preferential subscription rights at a price of 1 euro to Vatel Capital to enable it to subscribe 561,683 new shares to the planned capital increase. Vatel Capital also reserves the right to acquire other preferential subscription rights on the market and will subscribe to the balance of its subscription commitment on a reducible basis. Attachment Launch of a capital increaseSign in to access your portfolio
Yahoo
24-05-2025
- Business
- Yahoo
With 58% ownership of the shares, Eurasia Mining Plc (LON:EUA) is heavily dominated by institutional owners
Significantly high institutional ownership implies Eurasia Mining's stock price is sensitive to their trading actions 50% of the business is held by the top 3 shareholders Using data from company's past performance alongside ownership research, one can better assess the future performance of a company Our free stock report includes 4 warning signs investors should be aware of before investing in Eurasia Mining. Read for free now. Every investor in Eurasia Mining Plc (LON:EUA) should be aware of the most powerful shareholder groups. And the group that holds the biggest piece of the pie are institutions with 58% ownership. That is, the group stands to benefit the most if the stock rises (or lose the most if there is a downturn). Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. Therefore, a good portion of institutional money invested in the company is usually a huge vote of confidence on its future. In the chart below, we zoom in on the different ownership groups of Eurasia Mining. See our latest analysis for Eurasia Mining Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices. As you can see, institutional investors have a fair amount of stake in Eurasia Mining. This can indicate that the company has a certain degree of credibility in the investment community. However, it is best to be wary of relying on the supposed validation that comes with institutional investors. They too, get it wrong sometimes. If multiple institutions change their view on a stock at the same time, you could see the share price drop fast. It's therefore worth looking at Eurasia Mining's earnings history below. Of course, the future is what really matters. Institutional investors own over 50% of the company, so together than can probably strongly influence board decisions. Eurasia Mining is not owned by hedge funds. Hargreaves Lansdown Asset Management Ltd. is currently the largest shareholder, with 25% of shares outstanding. For context, the second largest shareholder holds about 14% of the shares outstanding, followed by an ownership of 11% by the third-largest shareholder. To make our study more interesting, we found that the top 3 shareholders have a majority ownership in the company, meaning that they are powerful enough to influence the decisions of the company. While it makes sense to study institutional ownership data for a company, it also makes sense to study analyst sentiments to know which way the wind is blowing. We're not picking up on any analyst coverage of the stock at the moment, so the company is unlikely to be widely held. The definition of an insider can differ slightly between different countries, but members of the board of directors always count. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. I generally consider insider ownership to be a good thing. However, on some occasions it makes it more difficult for other shareholders to hold the board accountable for decisions. We can report that insiders do own shares in Eurasia Mining Plc. In their own names, insiders own UK£11m worth of stock in the UK£111m company. Some would say this shows alignment of interests between shareholders and the board, though we generally prefer to see bigger insider holdings. But it might be worth checking if those insiders have been selling. With a 10% ownership, the general public, mostly comprising of individual investors, have some degree of sway over Eurasia Mining. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders. We can see that Private Companies own 22%, of the shares on issue. It's hard to draw any conclusions from this fact alone, so its worth looking into who owns those private companies. Sometimes insiders or other related parties have an interest in shares in a public company through a separate private company. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. To that end, you should learn about the 4 warning signs we've spotted with Eurasia Mining (including 2 which are significant) . If you would prefer check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, backed by strong financial data. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Independent
23-05-2025
- Business
- The Independent
Trump threatens 25% tariff on Apple iPhones and 50% on EU products starting June 1
President Donald Trump has threatened to impose a 50 percent import tax on anything brought into the U.S. from the European Union and is warning that he will unilaterally slap a 25 percent tariff on any Apple products unless the most valuable technology company in the United States begins manufacturing iPhones inside the country. Trump took to Truth Social to repeat his oft-stated false claim that the European Union was formed 'for the primary purpose of taking advantage of the United States on trade' and complained that the 27-member bloc 'has been very difficult to deal with' because of what he called 'powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against Americans Companies, and more.' He groused further about how the U.S. runs a more than $250,000,000 trade deficit with the E.U. — an accurate number for manufactured goods but grossly overstated when the amount of services purchased from the U.S. are taken into account — calling it 'totally unacceptable' and stating that trade talks with the E.U. are 'going nowhere.' He added: 'Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States. Thank you for your attention to this matter!' Trump's latest bellicose missive against America's largest trading partner came just moments after he threatened to target America's most valuable corporate citizen with a 25 percent tax on the the country's most popular mobile phone unless it is fully manufactured within the U.S. In a separate Truth Social post, he said he'd informed Apple CEO Tim Cook 'long ago' that he 'expect[s]' that the company iPhones destined for the U.S. market would be 'manufactured and built in the United States, not India, or anyplace else.' 'If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S.,' he said.
Epoch Times
20-05-2025
- Health
- Epoch Times
The Change in the Childhood Schedule
Commentary HHS Secretary Robert F. Kennedy, Jr. will likely make an announcement this week that the COVID-19 shot will be withdrawn from the These particular shots were only added to the schedule in February 2023, following a committee vote from the year earlier. They have been dogged by controversy simply because the basis for their inclusion has always been sketchy at best. Their withdrawal is a concession to reality that portends a resurgence of evidence-based medicine and responsible public health measures. This schedule is marked as 'recommended' but that is a bit misleading. Nearly every hospital, clinic, medical provider, and most schools, convert many recommendations into mandates. Resisting them can be hard. In some states, the exemptions are so hard to obtain that people who doubt them have to move away. Even so, some states are tightening rules (Massachusetts) while others are embracing health freedom (Idaho is the first state to legislate consistent medical freedom in law). This is not a subject the Trump administration can ignore. Fortunately, the new public health team in Washington is the most informed and independent ever assembled. Among their first big steps is removing this shot from the schedule completely. Meanwhile, uptake among the adult population continues to fall in light of vast evidence of adverse outcomes. Related Stories 5/16/2025 5/15/2025 The childhood schedule has blown up in size ever since the change in the law in 1986 that exempted vaccines from liability for harm. It became a gold rush. Just a few shots for two infections became up to 85 doses for 12 and more possible maladies, because many shots are configured to pertain to several diseases at once. Revenues for industry soared from $750 million in 1986 to $89 billion in 2021. Meanwhile, the kids keep getting sicker. It is clearly a crisis at this point. It is impossible not to suspect that explosive growth of the childhood schedule might be an issue. As with many issues of medicine and health, the seeming solution might in fact be part of the problem. The COVID shot was added to the schedule with no justification whatsoever. The infection danger for children is vanishingly small, approaching nonexistent. The dangers of the shots are well known. Meanwhile, even if they worked perfectly, they likely do not protect against new variants, and the duration of effectiveness wears off rather quickly, thus requiring a long string of boosters. Even with shots and boosters, you can still get infected and pass on the virus to others. Uptake is very low as it is. It seems obvious and even wholly unobjectionable to simply take them off the schedule. That said, many people with the pharma lobby oppose this passionately. This is because any shot that is on the list is automatically indemnified against liability by law. This particular shot has two levels of liability projection, one from its status as part of the Emergency Use Authorization (EUA) but also because of its inclusion on the childhood schedule. Removing it from the schedule takes away one layer of legal protection against complaints of harm. The EUA will time out at some point, which will likely unleash a flood of litigation. So on one hand, removing this shot seems like a tiny step. Many complain that this is not nearly enough and that the shots need to be completely withdrawn. On the other hand, consider that no shot has ever been removed from the schedule absent eradication or replacement by something considered to be better. Removing this shot means that health authorities are effectively saying that infection is safer for children than the shot itself. Nothing like this has happened in the entire history of the childhood schedule. The significance cannot be overstated. Consider what this means for other vaccines on the schedule. What if that standard were rigorously applied throughout? I don't have the answer to that but one suspects that the schedule might look more like it did in 1984 than the schedule today. That's why this is a huge move and one worthy of celebration. It would signal clearly that the Trump administration is capable of doing the right thing even against the objections of the pharmaceutical industry. That takes a step toward the restoration of public trust in the agencies. These kinds of mandates disguised as recommendations are common in American life. If you think back to all of the COVID controls, it is truly difficult to know how it came to be that so much coercion was deployed throughout. The closures, the protocols, and the bans were shocking by any historical record. And yet if you check the CDC, what you find is that they were all just guidelines, not laws. Public health agencies on the lower levels saw CDC guidelines as marching orders and implemented them with more teeth. On the county and city level, the enforcement became intense. But if you looked into the legal basis, there was none: they were merely following the CDC, which in turn claimed it was merely following the World Health Organization. It is a very similar situation with the vaccine mandates and the whole of the childhood schedule. They are mere recommendations that get converted in real life to hard coercions against bodily autonomy. In the United States, we just assume that every country does this. In fact, there are exactly zero vaccine mandates in the whole of the UK today. None. Somehow the country is not consumed by infectious disease plagues. Here is the key: the primacy of human choice over mandates. This must be the touchstone. As part of that, there must be a greater respect shown for the diversity within the human family on matters of health. All health is individual health. The term 'public health' can and should only pertain to issues like the commons such as water and air. Once it begins to apply to individual medical products, the term public health is potentially deployed as a weapon of compulsion. This is why a statement from Robert F. Kennedy, Jr. in congressional testimony was so thrilling. He said very plainly the following: 'I don't think people should take medical advice from me.' There was wailing and gnashing of teeth following that comment. This is because it has long been the presumption in political culture that the whole job of this position is to give medical advice. Kennedy says no: this is not the job of public health. Public health pertains to making the commons safe and clean but otherwise should leave medical decisions up to individuals and their doctors. For this reason, RFK Jr.'s statement might be the most important statement from a public health official in a century. If we take this statement seriously, we could fix many problems of the existing system, from the vaccine schedule to the mandatory benefits of health insurance to the exclusion of non-allopathic medicine from coverage. It's all about trusting the judgments of individuals, including parents, over the captured system that is in place now. Such progress away from the baseless status quo deserves one or several cheers. Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times.
Yahoo
20-05-2025
- Business
- Yahoo
CROSSJECT prepares for the launch of a capital increase with preferential subscription rights of around 5 million euros in preparation for commercial and production activities linked to EUA approval
Press Release CROSSJECT prepares for the launch of a capital increase with preferential subscription rights of around 5 million euros in preparation for commercial and production activities linked to EUA approval The amount of the proposed transaction ('the Offer') might be increased to around 5.8 million euros if the extension clause is exercised; Gemmes Venture, the Company's reference shareholder, announced its intention to guarantee the capital increase in cash up to the amount required for its completion (i.e. 75% of the initial amount of the issue); Heights Capital Management is supporting the Offer. Dijon, France, May 20, 2025 (7.30 AM CET)- CROSSJECT (ISIN: FR0011716265; Euronext: ALCJ), the specialty pharma company in advanced phases of development and registration for ZEPIZURE®, an emergency injectable for the management of epilepsy crises, plans to launch a capital increase with maintenance of preferential subscription rights in early June, for a gross amount of around 5.0 million euros ('the Offer'), which might be increased to around 5.8 million euros if the extension clause is exercised. Patrick ALEXANDRE, CEO of CROSSJECT highlighted: «In line with our progress towards a rapid filing of the ZEPIZURE® dossier with the FDA under the EUA procedure, we aim to have the necessary resources and financial flexibility to meet the demands of our US partner. Subject to FDA approval, our entire team is focused on our ability to deliver in response to the CHEMPACK program in support of US national preparedness against chemical threats. We also continue to be proactive in building our commercial infrastructure in the USA. » Preliminary characteristics of the Offer The planned Offer would consist of a capital increase through the issue of new shares with maintenance of preferential subscription rights. The capital increase would be decided in accordance with the authorization granted by the Supervisory Board at its meeting of May 19, 2025, and with the 7th resolution adopted by the Annual General Meeting of June 27, 2024, under which the shareholders delegated authority to the Managing Board to issue ordinary shares with pre-emptive subscription rights, up to a maximum nominal amount of 900,000 euros, excluding any preservation of rights. The transaction will be the subject of a specific press release at the time of the decision to launch the transaction, setting out the terms and conditions and the timetable. In view of the transaction, CROSSJECT will shortly suspend the exercise of dilutive instruments (warrants1 and convertible bonds ('OCA')2). Objectives of the Offer As announced on May 7, CROSSJECT continues to focus on the preparation of the EUA submission to the FDA and remains on schedule to finalize production of the validation batches in June. In addition, CROSSJECT has started a first production run of EUA batches, intended for the first delivery of the CHEMPACK program as part of the US national preparedness against chemical threats, in agreement with its American partner, the Biomedical Advanced Research and Development Authority (BARDA). CROSSJECT continues to allocate a significant portion of its resources also to its infrastructure in the United States and to its other product candidates. In this context, the Company intends to use the net proceeds of the issue as follows:- Approximately 60% will be allocated to the final development phases of ZEPIZURE® and to the initiation of production steps, including the related build-up of inventories, ahead of any reimbursement by the U.S. partner;- Approximately 40% will be used to finance R&D for its other projects, ZENEO® Adrenaline and ZENEO® Hydrocortisone, to repay certain financial creditors, and to cover general and administrative expenses and corporate development expenses, particularly in the United States. If the Offer is limited to 75% of the issue, i.e. around 3.8 million euros, CROSSJECT will allocate the net proceeds to the above activities on a pro rata basis, giving priority, nevertheless, to activities linked to the registration and to the production of ZEPIZURE®. With the net proceeds of the Offer, the Company estimates that its net working capital would be sufficient to meet its obligations until the end of 2025, assuming the first payments from its American partner following the first deliveries. The Company is considering dilutive and non-dilutive financing complements to extend its cash runway until receipt of the first payments from its US sponsor, expected in the third quarter of 2025. The Company might also receive additional funds from the exercise of the warrants issued on December 13, 2024 for up to a maximum amount of around €10.2 million, to meet additional potential financing needs. Subscription intents of certain important shareholders Gemmes Venture, a 26% reference shareholder in the Company, announced its intention to guarantee the Offer in cash up to the amount required for its completion (i.e. 75% of the initial amount of the issue). The OCA holder affiliated with Heights Capital Management, Inc. ('Heights') has also already indicated its intention to subscribe to the planned capital increase by offsetting against its claim of around 0.5 million euros corresponding to the cash reimbursement of the final redemption date of the OCA on April 28, 2025. Risk factors The Company draws the public's attention to the risk factors relating to the Company and its activities presented in its 2024 Annual Report, available on the Company's website ( Documentation Insofar as the amount of the Offer is less than 8 million euros (calculated over a 12-month period), the planned Offer will not give rise to a prospectus approved by the AMF. About CROSSJECT CROSSJECT SA (Euronext: ALCJ; is an emerging specialty pharmaceuticals company developing medicines for emergency situations harnessing its award-winning needle-free auto-injector ZENEO® platform. CROSSJECT is in advanced regulatory development for ZEPIZURE®, an epileptic rescue therapy, for which it has a $60 million contract* with BARDA. The Company's versatile ZENEO® platform is designed to enable patients or untrained caregivers to easily and instantly deliver a broad range of emergency drugs via intramuscular injection on bare skin or even through clothing. The Company's other products in development include mainly solutions for allergic shocks and adrenal insufficiencies, as well as therapies and other emergency indications. * This project has been supported in whole or in part with federal funds from the US Department of Health and Human Services; Administration for Strategic Preparedness and Response; BARDA, under contract number 75A50122C00031. *** For further information, please contact: Investor Relationsinvestors@ DISCLAIMER This press release and the information contained herein do not constitute either an offer to sell or purchase, or the solicitation of an offer to sell or purchase, securities of CROSSJECT. No communication or information in respect of the offering by the Company of its shares may be distributed to the public in any jurisdiction where registration or approval is required. No steps have been taken or will be taken in any jurisdiction where such steps would be required. The offering or subscription of shares may be subject to specific legal or regulatory restrictions in certain jurisdictions. The Company takes no responsibility for any violation of any such restrictions by any person. This announcement does not, and shall not, in any circumstances, constitute a public offering, a sale offer nor an invitation to the public in connection with any offer. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions. With respect to the Member States of the European Economic Area (including France) (the 'Member States'), no action has been or will be undertaken to make an offer to the public of the securities referred to herein requiring a publication of a prospectus in any Member State. As a result, the securities of the Company may not and will not be offered in any Member State except in accordance with the exemptions set forth in Article 1(4) of the Prospectus Regulation, or under any other circumstances which do not require the publication by the Company of a prospectus pursuant to Article 1 of the Prospectus Regulation and/or to applicable regulations of that relevant Member State. For the purposes of the provision above, the expression 'offer to the public' in relation to any shares of the Company in any Member State means the communication in any form and by any means of sufficient information on the terms of the offer and any securities to be offered so as to enable an investor to decide to purchase any securities, as the same may be varied in that Member State. The expression 'Prospectus Regulation' means Regulation (EU) 2017/1129, as amended from time to time, and includes any relevant implementing measure in the Member State. This document does not constitute an offer to the public in France and the securities referred to in this document can only be offered or sold in France pursuant to Article L. 411-2 of the French Monetary and Financial Code (Code monétaire et financier). In addition, in accordance with the authorisation granted by the Annual General Shareholders' Meeting dated June 27, 2024, only the persons pertaining to the categories specified in the 9th and 11th resolutions of such meeting may subscribe to the offering. This document does not constitute an offer of securities for sale nor the solicitation of an offer to purchase securities in the United States or any other jurisdiction where such offer may be restricted. Securities may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended (the '') or an exemption from registration under the Securities Act. The securities of the Company have not been and will not be registered under the Securities Act, and the Company does not intend to make a public offering of its securities in the United States. The distribution of this document (which term shall include any form of communication) is restricted pursuant to Section 21 (Restrictions on "financial promotion") of Financial Services and Markets Act 2000 (''). This document is only being distributed to and directed at persons who (i) are outside the United Kingdom, (ii) have professional experience in matters relating to investments and who fall within the definition of investment professionals in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the ''), (iii) are persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Promotion Order or (iv) are persons to whom this communication may otherwise lawfully be communicated (all such persons referred to in (i), (ii), (iii) and (iv) above together being referred to as ''). This document must not be acted on or relied on in the United Kingdom by persons who are not Relevant Persons. Any investment or investment activity to which this document relates is available only to Relevant Persons, and will be engaged in only with such persons in the United Kingdom. This document may not be distributed, directly, in or into the United States of America, Canada, Australia or Japan. 1 3,635,756 warrants issued on December 13, 2024, exercisable until December 13, 2027, listed on Euronext Growth Paris under Isin code FR001400UR90.2 Issue of 2 tranches of bonds convertible into new shares or redeemable in cash (OCAs) issued on February 28, 2024 and February 7, 2025, maturing on December 28, 2027. Attachment CROSSJECT prepares for the launch of a capital increaseError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
