VYNE Therapeutics Inc entered into a Securities Purchase Agreement on October 27, 2023. The Company agreed to sell and issue to the Purchasers 10,652,543 shares (the ?Shares?) of the Company?s common stock, par value $0.0001 per share (?Common Stock?), and pre-funded warrants to purchase 28,614,437 shares of Common Stock (the ?Pre-Funded Warrants?) in lieu of Shares at purchase price per share of Common Stock is $2.245 per share and the purchase price for the Pre-Funded Warrants is the Purchase Price of $2.2449 per Pre-Funded Warrant for aggregate gross proceeds of $88.2 million. The Pre-Funded Warrants have a per share exercise price of $0.0001, subject to proportional adjustments in the event of stock splits or combinations or similar events.

The Pre-Funded Warrants will not expire until exercised in full. The offering is expected to occur on or about November 1, 2023.The PIPE was led by Access Biotechnology, with participation from Eventide Asset Management, Cormorant Asset Management, Acorn Bioventures, Parkman Healthcare Partners, Surveyor Capital (a Citadel company), Soleus Capital, Palo Alto Investors LP, and other undisclosed investors.