Contineum Therapeutics announces $75 million public offering

Contineum Therapeutics Inc. (NASDAQ: CTNM) announced an underwritten public offering of $75 million of Class A common stock shares. The clinical-stage biopharmaceutical company also granted underwriters a 30-day option to purchase up to an additional $11.25 million of shares at the public offering price, minus underwriting discounts and commissions.

Goldman Sachs & Co. LLC, Leerink Partners, Stifel, RBC Capital Markets and William Blair serve as joint book-running managers for the offering. Jones acts as manager.

The company filed a registration statement with the Securities and Exchange Commission on May 14, 2025, which became effective on May 23, 2025. The offering remains subject to market and other conditions, with no assurance regarding completion, timing, or final terms.

All securities in the proposed offering will be sold by Contineum. The San Diego-based company develops oral small molecule therapies for neuroscience, inflammation and immunology indications.

Contineum's pipeline includes PIPE-791, an LPA1 receptor antagonist in clinical development for idiopathic pulmonary fibrosis and chronic pain, and PIPE-307, a selective inhibitor of the M1 receptor in clinical development for relapsing-remitting multiple sclerosis and major depressive disorder.

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