DWTI announced after the close on 11/4 that 84.6% of the Series 13 Share Acquisition Rights (with exercise price adjustment clause) issued on July 31, 2025, have already been exercised in just three months since the issue (see table below). In other words, this leaves only 1.5mn shares, or 3.37% dilution remaining.
This marks a significant decline in selling pressure going forward, ahead of multiple expected share price catalysts, including 1) China launch of DW-1002 (Brilliant Blue G) for indication ILM staining as an aid for ophthalmic surgeries
2) expected H1 2026 US launch of DW-5LBT (lidocaine patch, trade name Bondlido), as a treatment for neuropathic pain after shingles (post-herpetic neuralgia) in adults, and 3) announcement of details of the Japan development plan for new pipeline candidate H-1129 as a treatment for corneal and conjunctival diseases caused by immune disorders.
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News Flash: D. Western Therapeutics Institute (4576 JP) - November 5, 2025