Crossject Shares Drop 10% After Raising 15 Million Euros
Crossject's stock significantly declines mid-day, following the announcement of a major financing operation aimed to accelerate the development of its flagship product. The Dijon-based biotech is experiencing the effects of dilution on a stock that had been on a marked increase over recent weeks.
A 15 Million Euro Capital Increase to Fund Zepizure Weighs on Stock Price
Crossject's stock falls by 8.94% to €2.24, after closing at €2.46 the previous day. The company announced this morning the successful completion of a capital increase accompanied by the issuance of subscription warrants, totaling 15 million euros. The proceeds from the operation are intended to finance the continued regulatory development of Zepizure, its injectable for epileptic seizures, as well as scaling up industrial production. The bearish reaction could be explained by the mechanical dilution effect on existing shareholders. This operation follows a 2025 fiscal year marked by a 19% reduction in loss and a cash position reduced to €5.1M, as shown in the annual accounts presented at the end of March.
Despite today's decline, the stock still maintains a gain of 16.79% over a week and 35.69% over a year. The contract with the U.S. agency BARDA remains a cornerstone of the biotech's business model.
A Decline Occurring in a Zone of Marked Technical Overbuying
Today's session drop brings the stock price to €2.24, but it remains 10.89% above its 20-day moving average (€2.02) and 12.00% above its 200-day average (€2.00). This difference from the averages reflects the strength of the rebound over the last few weeks, rather than a trend break. An RSI at 73 confirms an overbought configuration, making today's consolidation consistent with the technical dynamics in place before the announcement.
The identified support threshold at €1.90 remains distant from the current price, while the resistance at €2.46 precisely matches the previous day's closing level, now lost. Meanwhile, the CAC 40 gains 0.48% in the session and the SBF 120 advances by 0.52%, in a supportive market context that was not enough to cushion the blow to the stock. The next milestone for shareholders will be the regulatory development schedule for Zepizure, now secured in terms of financing.
