Nyxoah SA (NASDAQ:NYXH) stock is up during Tuesday’s premarket session. Year to date, the stock has plunged almost 70%.

On Friday, the company priced its $95 million underwritten public offering. The offering aims to fund various initiatives, including commercialization efforts and research and development for its Genio system, a treatment for Obstructive Sleep Apnea.

The offering is significant as it reflects Nyxoah’s commitment to expanding its market presence and enhancing its product offerings.

Nyxoah Raises $95 Million Via Equity

The public offering consists of approximately 55.2 million ordinary shares priced at $1.72 each, with a 30-day option for underwriters to purchase additional shares.

The proceeds are intended for expanding commercialization activities in the U.S. and advancing R&D for product enhancements and new technologies.

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