Tharimmune Inc. completed a $55 million registered equity offering that issued 1.8 million shares of common stock at $2.92 per share and pre‑funded warrants to purchase up to 17 million shares at $2.9199 per warrant. The offering was filed under a shelf registration statement effective January 16, 2026 and is expected to close on or about January 21, 2026, with Clear Street acting as the sole bookrunner.
The proceeds are earmarked to support the company’s clinical‑stage biotechnology pipeline—including the national‑security‑focused TH104 program, the oral antibody platform TH023, and a portfolio of immuno‑oncology bispecifics—as well as to fund Tharimmune’s digital‑asset treasury strategy that leverages the Canton Network and Canton Coin to digitize traditional financial markets.
Tharimmune’s balance sheet shows no revenue but strong liquidity, with a current ratio of 4.98 and a debt‑to‑equity ratio of 0.03. The capital raise will extend the company’s runway and provide working capital to cover the significant R&D expenditures and ongoing cash burn associated with its clinical development programs.
Because the offering includes pre‑funded warrants, the number of outstanding shares could rise substantially if the warrants are exercised. The potential dilution is estimated at $0.66 per share to new investors, reflecting the impact of the warrant structure on the share count.
The TH104 program has received positive FDA feedback for a 505(b)(2) NDA pathway, potentially allowing the company to file a new drug application without additional clinical trials for that indication. The TH023 platform has shown promising preclinical results for delivering infliximab orally, and the immuno‑oncology bispecifics are advancing through development milestones. Together, these initiatives underscore Tharimmune’s dual focus on biotechnology innovation and digital‑asset infrastructure.
By raising $55 million, Tharimmune strengthens its capital base, positions itself to pursue both its biotech and digital‑asset strategies, and reinforces its ability to fund future growth and maintain financial flexibility.
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