Connecticut-based Yarrow Bioscience, Inc. (Nasdaq: YARW) announced the pricing of an underwritten public offering of 5,769,231 shares of common stock at USD 26.00 per share, raising approximately USD 150 million in gross proceeds to fund research and development expenses for Yarrow's pipeline and general corporate purposes, which may include working capital, capital expenditures and other general corporate purposes.

The offering, priced at USD 26.00 per share, represents Yarrow's first public equity raise since completing its merger with VYNE Therapeutics and closing approximately USD 200 million in private pre-closing financings in late July 2026. Underwriters hold a 30-day option to purchase up to an additional 865,384 shares at the offering price. The offering was expected to close on September 14, 2026, subject to customary closing conditions.

Yarrow's lead asset, YB-101 (GenSci-098), is an anti-thyroid stimulating hormone receptor (TSHR) monoclonal antibody being developed for Graves' disease (GD) and thyroid eye disease (TED). The company describes it as a potential first-in-class agent that blocks TSHR, the common autoantibody target in both conditions, with the aim of arresting the underlying disease process rather than managing symptoms. Yarrow holds exclusive global ex-China rights to YB-101 under a licensing agreement with Changchun GeneScience Pharmaceutical Co., Ltd. (GenSci), which the company said was valued at up to USD 1.37 billion at signing.

Yarrow initiated dosing in a Phase II randomized, blinded, placebo-controlled trial evaluating YB-101 in GD patients with or without concurrent TED following US FDA Fast Track Designation. Phase IIa data are expected in the second half of 2027. GenSci is conducting a separate Phase I single ascending dose and multiple ascending dose trial in TED patients in China, with data also anticipated in the second half of 2027. The combined USD 150 million public raise adds to the prior USD 200 million in private financings completed alongside Yarrow’s July merger with VYNE, which the company previously said would support operations into 2028.

Spot something wrong? Report an issue with this article