Nyxoah raises up to €85 million in IPO
Health tech company Nyxoah has successfully raised up to €85 million (US$100m) in its initial public offering on Euronext Brussels.
Belgian health tech company Nyxoah S.A. announced on September 16, 2020, the results of its initial public offering (IPO), through which it raised up to €85 million (approximately US$100 million). The company's shares began trading on the regulated market of Euronext Brussels under the ticker symbol NYXH.
The final offer price per share was set at €17, giving the company an initial market capitalization of approximately €364 million. Gross proceeds from the offering for the company amounted to approximately €73.7 million, or about €84.8 million if all options are exercised.
Nyxoah develops and commercializes innovative solutions and services for the treatment of sleep-related breathing disorders. The company's Genio® system has obtained CE marking in Europe, but its clinical efficacy is not yet fully demonstrated. Future clinical studies, particularly those intended to support regulatory approvals in markets like the U.S., are crucial for further commercialization.
The company has previously reported operational losses and negative cash flows, acknowledging a need for additional capital to meet its future needs. The funds raised from the IPO are intended to support the execution of Nyxoah's strategy and facilitate its growth.