What: After pricing shares of its equity offering at $34, shares in DBV Technologies SA (DBVT 0.60%) jumped by 10% earlier today.

So what: Since developing new drugs is incedibly expensive, it's not uncommon for clinical stage companies like DBV Technologies to tap equity investors for funding.

In this case, the France-based DBV Technologies plans to sell 3.6 million American Depository Receipts, which at $34 per share should generate $244.8 million in proceeds, before deducting fees, commissions, and other discounts.

That money will be used to advance clinical studies of immunotherapy products that can be applied directly on a patient's skin to treat common food allergies.

DBV Technologies is currently developing Viaskin Peanut and Viaskin Milk as topical thereapies for peanut and milk allergies, respectively.

Viaskin Peanut is currently in a phase 2b follow-up study that is assessing its efficacy and safety across 170 patients with peanut allergies, while Viaskin Milk is about to enter the second part of a phase 1 study.

Now what: DBV Technologies' potential to revolutionize food allergies is massive. According to studies, more than 125,000 people visit emergency rooms in America annually because of food allergies, and roughly 3 million Americans are thought to be allergic to peanuts and/or nuts. As many as twice that number may suffer from milk allergies.

Because no therapies are currently approved for these allergies and they're widespread, some enthusiasm is likely warranted. However, investors should remember that DBV Technologies is still early in the development of these therapies and that means that a lot can still go wrong and derail its shares. Regardless, the company's intriguing enough for me to add it to my watch list.