Circio Holding ASA (”Circio” or ”the Company”) announced, on the 9th of June 2026, that the Company has secured NOK 300m in gross proceeds from the warrant exercise program and a related underwritten private placement. Of the 67,680,945 warrants issued in connection with the February rights issue, 25,781,827 were exercised at NOK 8.2508 per share, a subscription rate of approx. 38%, raising approx. NOK 213m from more than 400 subscribers. The remaining approx. NOK 87m was secured through the underwriting commitment announced on 26 May 2026. Together with the two financings completed earlier in 2026, total capital raised in H1-26 amounts to approx. NOK 620m (USD 65m). The proceeds will be used to accelerate and broaden circVec platform development and to advance a lead gene therapy program towards IND-filing and clinical proof of concept, with an estimated financial runway to the end of 2030.
In summary, Analyst Group considers the NOK 300m financing to complete a remarkable turnaround in the Company’s capital position, bringing total H1-26 proceeds to approx. NOK 620m (USD 65m) and equipping the Company to invest more heavily across the coming years. The approx. 38% subscription rate signals investor willingness to commit fresh capital at a re-rated share price, while the intent to advance a lead program towards IND-filing marks a meaningful evolution beyond preclinical platform licensing. With funding no longer the constraint, Analyst Group regards execution against the 2026 catalyst pipeline, particularly the disease-model readouts in eye and heart, as the key determinant of value creation, balanced against the elevated burn and execution risk inherent in moving towards in-house clinical development.
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