On November 10, 2026 PDS Biotechnology Corporation (Nasdaq: PDSB) ("PDS Biotech" or the "Company"), a clinical-stage biotechnology company focused on developing targeted immunotherapies for cancer, reported NantWorks has exercised its outstanding common stock warrants to purchase an aggregate of 17,699,115 shares of the Company’s common stock (or pre-funded warrants in lieu thereof) at an exercise price of $0.22 per share. The gross proceeds to the Company from the exercise of existing warrants were approximately $3.9 million.
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The Company intends to use the net proceeds from the warrant exercise, together with the net proceeds from the September 2026 private placement, to support the advancement of PDS0301 toward a Phase 3 trial in metastatic colorectal cancer, as well as the Company’s partnership strategy for PDS0101 and general corporate purposes.
The common stock warrants were issued in connection with the private placement that initially closed on September 14, 2026, in which the Company received gross proceeds of approximately $11.3 million.
The common stock warrants are subject to a 19.9% beneficial ownership limitation, which applies to the holder together with its affiliates and other attribution parties and may not be waived. In accordance with the terms of the warrants, the portion of the exercise that would have caused the holder to exceed this limitation was exercised for pre-funded warrants in lieu of shares of common stock. The pre-funded warrants have an exercise price of $0.00033 per share, do not expire and are subject to the same beneficial ownership limitation.
The shares of common stock issued upon exercise of the warrants have not been registered under the Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
(Press release, PDS Biotechnology, NOV 10, 2026, View Source [SID1234674567])