Orexo Plans SEK250 Million Rights Issue to Fund Drug Development

03:04 AM EDT, 10/06/2026 (MT Newswires) -- Orexo (ORX.ST) intends to raise 250 million kronor through a new issue of shares with preferential rights to bolster its financial position and fund prioritized drug development activities. The Swedish pharmaceutical company said Tuesday that terms, including the subscription price, ratio, and maximum number of shares, will be announced on Nov. 3, with a shareholder vote on the proposed issue at a Nov. 6 extraordinary general meeting. The subscription period is expected from Nov. 12 to Nov. 26. Orexo plans to use the proceeds to advance key development programs for its allergic-reaction drug OX640 and OX390 for respiratory depression due to overdose, while also supporting the regulatory process for its naloxone rescue medication Izipry ahead of potential US approval. A portion of the proceeds will also go to its share of the expected settlement with the US Justice Department and to working capital.