Rein Therapeutics Announces Pricing of $50 Million Underwritten Public Offering of Common Stock

Rein Therapeutics (NASDAQ: RNTX) priced an underwritten public offering of 50.0 million common shares at $1.00 per share for gross proceeds of $50 million, with a 45‑day option to purchase up to an additional 7.5 million shares.

Rhea-AI Summary

Rein Therapeutics (NASDAQ: RNTX) priced an underwritten public offering of 50.0 million common shares at $1.00 per share for gross proceeds of $50 million, with a 45‑day option to purchase up to an additional 7.5 million shares. The offering is expected to close on or about May 4, 2026.

Rein intends to use net proceeds to fully fund its ongoing Phase 2 trial of LTI‑03 in idiopathic pulmonary fibrosis and for working capital; it believes proceeds plus cash on hand will fund operations into 2028.

Positive

• $50.0M gross proceeds from common stock offering
• Underwriting includes a 7.5M share over‑allotment option (45 days)
• Proceeds intended to fully fund Phase 2 LTI‑03 IPF trial
• Company projects cash runway into 2028

Negative

• Issuance of 50.0M new shares will dilute existing shareholders
• Potential additional dilution if underwriters exercise 7.5M option
• Offering priced at $1.00 per share, indicating low immediate per‑share proceeds

Argus May 1 session

-23.99% close to close Open Argus

Details

News Market Reaction – RNTX

On May 1, the first trading day after this news, RNTX closed 23.99% below the previous close.

Data tracked by StockTitan Argus for the May 1 session.

Market Context

On May 1, the first trading day after this news, the stock closed 24.0% below the previous close. A ...

Analysis

On May 1, the first trading day after this news, the stock closed 24.0% below the previous close. A negative reaction despite the company highlighting funding into 2028 fits a pattern where RNTX has frequently sold off around news, even when clinical updates were positive. The $50 million underwritten offering at $1.00 per share adds substantial new equity, which can pressure existing holders concerned about dilution. Past events show multiple divergences between good clinical headlines and weaker prices, so a sharp decline could reflect persistent skepticism about long-term value and trial execution rather than this single financing step alone.

Key Figures

Gross proceeds: $50 million Shares offered: 50,000,000 shares Offering price: $1.00 per share +5 more

Gross proceeds

$50 million

Aggregate gross proceeds of the underwritten public offering

Shares offered

50,000,000 shares

Common stock sold in the underwritten public offering

Offering price

$1.00 per share

Public offering price for each share of common stock

Over-allotment option

7.5M shares

Additional shares underwriters may buy within 45 days

Option period

45 days

Duration of underwriters’ option to purchase extra shares

Expected closing date

May 4, 2026

Anticipated closing date of the offering, subject to conditions

Trial phase

Phase 2

Ongoing clinical trial of LTI-03 in idiopathic pulmonary fibrosis

Runway guidance

Into 2028

Company’s estimate for funding operations with this offering

Historical Context

5 past events · Latest: Apr 29

5 events

1. Apr 29

   Trial enrollment update

   24h Move

   -12.1%

   Phase 2 RENEW trial enrollment progress with new global sites planned.

2. Mar 03

   First patient dosed

   24h Move

   -3.4%

   First patient dosed in Phase 2 LTI-03 IPF trial after FDA clearance.

3. Jan 20

   EU orphan designation

   24h Move

   -0.8%

   European orphan drug designation granted for LTI-03 in IPF.

4. Nov 06

   Scientific publication

   24h Move

   -1.9%

   New preprint showing tolerability and fibrosis biomarker reductions for LTI-03.

5. Nov 03

   FDA trial clearance

   24h Move

   +11.8%

   FDA lifted full clinical hold on Phase 2 RENEW trial of LTI-03.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

underwritten public offering, over-allotments, idiopathic pulmonary fibrosis, Phase 2 clinical trial, +2 more

6 terms

underwritten public offering financial

"announced the pricing of its underwritten public offering of fifty million shares"

An underwritten public offering is when a company sells new shares of its stock to the public with the help of a financial firm, called an underwriter. The underwriter agrees to buy all the shares upfront, reducing the company's risk, and then sells them to investors. This process helps companies raise money quickly and confidently from a wide range of buyers.

over-allotments financial

"option to purchase up to an additional 7.5M shares ... to cover over-allotments"

An over-allotment is a temporary extra batch of shares that the underwriters of a stock offering are allowed to sell beyond the original amount, with the right to buy those shares back later. Think of it as spare tickets sold to meet demand and then reclaimed if needed to keep the market orderly; it helps stabilize the stock price after an offering and can affect short-term supply and potential dilution, which matters to investors tracking price and ownership stakes.

idiopathic pulmonary fibrosis medical

"Phase 2 clinical trial of LTI-03 in idiopathic pulmonary fibrosis (IPF)"

Idiopathic pulmonary fibrosis is a chronic lung disease in which the air‑carrying tissue becomes progressively thickened and scarred for no identifiable reason, making the lungs stiff and less able to move oxygen—similar to a sponge that hardens and loses its pores. It matters to investors because it is life‑limiting with limited effective treatments, so clinical trial outcomes, regulatory approvals, pricing and reimbursement decisions can strongly affect the commercial value of therapies and the financial prospects of companies developing treatments.

Phase 2 clinical trial medical

"use the net proceeds from the offering to fully fund its ongoing Phase 2 clinical trial"

A phase 2 clinical trial is a research study that tests a new medical treatment or drug to see if it is effective and safe for a specific condition. It involves a larger group of people than earlier trials and helps determine whether the treatment should move forward to more extensive testing. For investors, successful phase 2 results can signal potential for future approval and commercial success, while setbacks may indicate challenges ahead.

registration statement on Form S-1 regulatory

"offered and sold pursuant to a registration statement on Form S-1 (File No. 333-295390)"

A registration statement on Form S-1 is a detailed filing a company submits to the U.S. securities regulator to register new shares for public sale; it includes a plain-language prospectus, financial statements, business description and risk factors. For investors it matters because it provides the official, comprehensive blueprint of the offering — like an owner’s manual — allowing buyers to assess risks, inspect financial health and compare valuation before deciding to invest.

prospectus regulatory

"The offering is being made only by means of a prospectus that forms part"

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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AUSTIN, Texas, April 30, 2026 (GLOBE NEWSWIRE) -- Rein Therapeutics, Inc. ("Rein" or the "Company") (NASDAQ: RNTX), a clinical-stage biopharmaceutical company advancing a novel pipeline of first-in-class medicines for orphan pulmonary and fibrosis indications, today announced the pricing of its underwritten public offering of fifty million shares of its common stock at a public offering price of $1.00 per share for aggregate gross proceeds of $50 million, prior to deducting underwriting discounts and commissions and other offering expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 7.5M shares of common stock at the public offering price per share, less the underwriting discounts and commissions, to cover over-allotments, if any. The offering is expected to close on or about May 4, 2026, subject to the satisfaction of customary closing conditions. The offering consisted entirely of common stock with no warrants.

Konik Capital Partners, LLC, a division of T.R. Winston & Company, LLC, is acting as the sole book-running manager for the offering.

Rein intends to use the net proceeds from the offering to fully fund its ongoing Phase 2 clinical trial of LTI-03 in idiopathic pulmonary fibrosis (IPF) through completion and for working capital and general corporate purposes. Based on its current operating plan, the Company believes the net proceeds from this offering, together with its existing cash and cash equivalents, will be sufficient to fund its operations into 2028.

The securities described above are being offered and sold pursuant to a registration statement on Form S-1 (File No. 333-295390), including a prospectus, filed with the U.S. Securities and Exchange Commission (the "SEC"), which was declared effective by the SEC on April 30, 2026. The offering is being made only by means of a prospectus that forms part of the effective registration statement. A final prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website at http://www.sec.gov. Copies of the final prospectus may be obtained, when available, from Konik Capital Partners, LLC, a division of T.R. Winston & Company, LLC, at 7 World Trade Center, 46th Floor, New York, NY 10007, Attention: Capital Markets Team, Email: capmarkets@konikcapitalpartners.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any 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 state or jurisdiction.

About Rein Therapeutics

Rein Therapeutics is a clinical-stage biopharmaceutical company advancing a novel pipeline of first-in-class therapies to address significant unmet medical needs in orphan pulmonary and fibrosis indications. Rein’s lead product candidate, LTI-03, is a novel, synthetic peptide with a dual mechanism targeting alveolar epithelial cell survival as well as inhibition of profibrotic signaling. LTI-03 has received Orphan Drug Designation in the U.S. Rein’s second product candidate, LTI-01, is a proenzyme that has completed Phase 1b and Phase 2a clinical trials for the treatment of loculated pleural effusions. LTI-01 has received Orphan Drug Designation in the U.S. and E.U. and Fast Track Designation in the U.S.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements of Rein Therapeutics, Inc. (“Rein”, the “Company”, “we”, “our” or “us”) within the meaning of the Private Securities Litigation Reform Act of 1995, including statements with respect to expectations for the Company’s LTI-03 and LTI-01 product candidates and the closing of the offering. We use words such as “anticipate,” “believe,” “estimate,” “expect,” “hope,” “intend,” “may,” “plan,” “predict,” “project,” “target,” “potential,” “would,” “can,” “could,” “should,” “continue,” and other words and terms of similar meaning to help identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: (i) the risk that the offering may not be completed, (ii) the risk that the net proceeds of the offering may not be sufficient to fund the Company’s operations into 2028, and (iii) those other risks disclosed in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with the SEC on March 26, 2026, and in subsequent filings that the Company makes with the SEC. These forward-looking statements should not be relied upon as representing the Company’s views as of any date after the date of this press release, and the Company expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Rein Therapeutics Investor Relations & Media Contact:

Investor Relations

IR@ReinTx.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many shares did Rein Therapeutics (RNTX) offer and at what price?

Rein offered 50.0 million common shares at $1.00 per share. According to the company, the offering yields $50 million in gross proceeds before fees and expenses.

Will Rein Therapeutics (RNTX) allow an over‑allotment on the May 2026 offering?

Yes. According to the company, underwriters have a 45‑day option to buy up to 7.5 million additional shares to cover over‑allotments, if any.

What will Rein Therapeutics (RNTX) use the offering proceeds for?

The company intends to use net proceeds to fund the ongoing Phase 2 LTI‑03 trial in IPF and for working capital and general corporate purposes, according to the company.

When is the Rein Therapeutics (RNTX) offering expected to close?

The offering is expected to close on or about May 4, 2026. According to the company, closing remains subject to customary closing conditions.

How long does Rein expect the new funding to support operations?

Rein says the net proceeds plus existing cash and cash equivalents are expected to fund operations into 2028. That projection is based on the company's current operating plan.