DBV Technologies (DBVT) late Thursday disclosed financing of up to $306.9 million to fund a peanut allergy patch for children aged four to seven years old.

DBV shares soared nearly 50% in premarket activity Friday.

The financing to be received includes gross proceeds of $125.5 million upon closing and up to $181.4 million if all the warrants in the sale are exercised, the company developing the Viaskin peanut patch to treat pediatric peanut allergy said.

DBV expects to use the proceeds to fund the Viaskin Peanut program, prepare and submit a potential biologics license application, and finance the readiness of a launch of Viaskin in the US, if approved by the US Food and Drug Administration.

The funding will result in an immediate dilution of more than 22% and a maximal dilution of up to almost 74% if all the warrants in its offering are fully exercised. The company said the VITESSE phase 3 study hitting its primary endpoint will trigger an acceleration of the exercise period of some of the warrants.