ProQR prices $50M share offering with Eli Lilly joining as buyer

ProQR Therapeutics N.V. (Nasdaq: PRQR) announced the pricing of an underwritten registered direct offering of 27,624,310 ordinary shares at $1.81 per share, raising approximately $50.0 million in gross proceeds before deducting underwriting discounts, commissions, and other expenses.

Concurrently, ProQR entered into a share purchase agreement with Eli Lilly and Company, an existing shareholder and strategic partner, in a separately negotiated private placement. Lilly agreed to purchase 5,100,780 ordinary shares at the same $1.81 offering price, generating approximately $9.2 million in additional gross proceeds. The transaction allows Lilly to maintain its pro rata beneficial ownership in ProQR. The private placement shares will not be registered under the Securities Act of 1933 and are being issued under the exemption provided by Section 4(a)(2).

The closing of the registered offering is not contingent on the closing of the concurrent private placement. Both transactions are expected to close on or about June 26, 2026, subject to customary closing conditions.

ProQR stated it intends to use net proceeds from both transactions, along with existing cash, primarily to fund research and clinical development of pipeline candidates, as well as for working capital, capital expenditures, and general corporate purposes.

BofA Securities, Evercore ISI, and Cantor are serving as joint lead bookrunning managers for the offering, with Oppenheimer & Co. acting as a bookrunning manager.

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