Yarrow Bioscience is offering common stock and pre-funded warrants, while up to $50.0 million of common stock remains available under an amended sales agreement. Investors face potential dilution from Warrant and option shares, while the pre-funded warrants have no established trading market and are expected to have limited liquidity.

Key Highlights

  • Yarrow Bioscience had 2,669,746 common shares outstanding as of August 10, 2026.
  • Outstanding pre-funded warrants represented 25,781,240 potential common shares as of June 30, 2026.
  • The pre-funded warrants carry a $0.0001 exercise price and are not intended for Nasdaq listing.

Yarrow Bioscience, Inc. (NASDAQ: YARW) is offering common stock and pre-funded warrants, with up to $50.0 million of common stock available for sale under an amended sales agreement. The securities package gives some investors a warrant alternative priced at $0.0001 below the public offering price per share.

Offering Structure and Existing Share Rights

The preliminary prospectus supplement is dated September 10, 2026, and relates to a prospectus dated August 19, 2026. Yarrow Bioscience said the pre-funded warrants can be exercised at any time from issuance, with an exercise price of $0.0001 per share. The company also said its common stock trades on Nasdaq under YARW, while the warrants are not intended for listing on Nasdaq or another exchange. The pro forma share calculations use 2,803,078 common shares outstanding as of June 30, 2026.

Warrant Liquidity and Potential Dilution

Yarrow Bioscience said there is no established public market for the pre-funded warrants and expects their liquidity to be limited. The company’s common stock last changed hands at $29.11 per share on September 9, 2026. Yarrow Bioscience said exercising Options or issuing additional common stock or convertible securities in the future would cause further dilution to new investors.