Palvella Therapeutics Upsized Public Offering Closes

Palvella Therapeutics, a clinical-stage biopharmaceutical company, announced the pricing and subsequent closing of an upsized public offering of its common stock. The offering, initially targeting $150 million, was upsized and ultimately closed on February 27, 2026, raising $230 million in gross proceeds. This included the full exercise of the underwriters' option to purchase additional shares. The shares were priced at $125.00 per share. Palvella Therapeutics intends to use the net proceeds to fund the development of its drug programs, specifically QTORIN rapamycin and QTORIN pitavastatin, as well as for working capital and general corporate purposes, including research and development expenses. Several financial institutions, including Toronto-Dominion Bank===TD Cowen, Cantor Fitzgerald, Stifel, Mizuho Financial Group, Oppenheimer Holdings, Canaccord Genuity Group===Canaccord Genuity, and H.C. Wainwright & Co., acted as joint bookrunning managers, with Lucid Capital Markets, Jones, Clear Street, and Craig-Hallum Capital Group serving as co-managers.