Satellos prices $50 million public offering in Canada and US

Satellos Bioscience Inc. (TSX: MSCL, NASDAQ: MSLE) announced the pricing of its public offering of 4,455,445 common shares and 495,049 pre-funded warrants at $10.10 per share and $10.09999 per warrant, respectively.

The clinical-stage biotechnology company, which develops treatments for degenerative muscle diseases, expects to raise approximately $50 million in gross proceeds before underwriting fees and expenses. The offering includes an option for underwriters to purchase up to 742,574 additional shares within 30 days.

Leerink Partners, Guggenheim Securities and Oppenheimer & Co. serve as joint book-running managers, while Bloom Burton Securities Inc. acts as co-manager. The offering is expected to close on February 9, 2026, subject to customary conditions and approvals from the Toronto Stock Exchange and Nasdaq Global Market.

Satellos plans to use the net proceeds primarily for research and development activities, working capital and general corporate purposes. This may include advancing development of SAT-3247 through Phase 2 to Phase 3 clinical trials and investment in discovery stage programs.

Two board members, Franklin Berger and Mark Nawacki, purchased 24,750 and 30,000 shares respectively in the offering. These transactions are considered related party transactions under Canadian securities laws but are exempt from formal valuation requirements as their value is less than 25% of the company's market capitalization.

Satellos' common shares are expected to begin trading on Nasdaq under ticker "MSLE" and are already listed on the TSX under "MSCL." The company is developing SAT-3247, an oral small molecule drug targeting AAK1 protein for Duchenne muscular dystrophy treatment.

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