February 9, 2026 — Leads & Copy — Satellos Bioscience Inc. (Nasdaq: MSLE, TSX: MSCL) has completed its previously announced underwritten public offering of 5,168,019 common shares, which includes the underwriters’ option to purchase an additional 712,574 common shares and pre-funded warrants to purchase 495,049 common shares.
The common shares were sold at a price of US$10.10 per share (C$13.81 per common share) and the pre-funded warrants were sold at a price of US$10.09999 per pre-funded warrant (C$13.80999 per pre-funded warrant), which represents the per share price for the common shares less the C$0.00001 per share exercise price for each pre-funded warrant.
The total gross proceeds to Satellos were approximately US$57.2 million, before deducting underwriting discounts and commissions.
Satellos’ common shares are dual-listed on the Nasdaq Global Market under the trading symbol “MSLE” and on the Toronto Stock Exchange under the trading symbol “MSCL.”
Leerink Partners, Guggenheim Securities and Oppenheimer & Co. acted as joint book-running managers for the offering. Bloom Burton Securities Inc. acted as co-manager.
Satellos intends to use the net proceeds of the offering primarily to fund ongoing research and development activities, and for working capital and general corporate purposes. This may include advancing the development of SAT-3247 through the various stages of clinical trials (Phase 2 to Phase 3) or clinical trials of SAT-3247 in other indications, and investment in other discovery stage or pre-clinical development programs, as set out in the Supplement to the Company’s short form base shelf prospectus dated October 29, 2025. The offering was made in Canada pursuant to the Supplement and in the United States pursuant to a registration statement on Form F-10 containing the Supplement and Base Prospectus filed with the U.S. Securities and Exchange Commission.
Franklin Berger, a member of the board of directors of Satellos, purchased 24,750 common shares in the offering. The subscription for common shares by Franklin Berger is a related party transaction within the meaning of applicable Canadian securities laws but is exempt from formal valuation and minority approval requirements.
The Board of Directors has approved the offering.
Satellos is a clinical-stage drug development company focused on restoring natural muscle repair and regeneration in degenerative muscle diseases. Through its research, Satellos has developed SAT-3247, a first-of-its-kind, orally administered small molecule drug designed to address deficits in muscle repair and regeneration. SAT-3247 targets AAK1, a key protein that Satellos has identified as capable of helping restore muscle stem cell signaling that is disrupted in DMD.
By addressing the loss of dystrophin-dependent cues, SAT-3247 may re-establish the signals that support effective muscle regeneration. SAT-3247 is currently in clinical development as a potential disease-modifying treatment, initially for DMD. Satellos is also working to identify additional muscle diseases or injury conditions where restoring muscle repair and regeneration may have therapeutic benefit and represent future clinical development opportunities.
No regulatory authority has either approved or disapproved the contents of this news release. This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.
Satellos believes that expectations represented by forward-looking statements are reasonable, yet there can be no assurance that such expectations will prove to be correct.
Source: Satellos Bioscience Inc.
