Gamida Cell Raises $23 Million in Public Offering to Support Launch of Newly Approved Cell Therapy
April 19, 2023
Rare Daily Staff
Two days after the U.S. Food and Drug Administration approved itsallogeneic cell therapy, Omisirge, Gamida Cell priced of an underwritten public offering of 17.5 million shares and accompanying warrants to purchase 17.5 million shares at a public offering price of $1.30 per share and accompanying warrant, for gross proceeds of approximately $22.8 million, before deducting underwriting discounts and commissions and estimated offering expenses.
The warrants have an exercise price of $1.35 per share, are exercisable immediately upon issuance, and will expire five years following the date of issuance. In addition, Gamida Cell has granted the underwriters a 30-day option to purchase up to an additional 2.625 million shares and/or warrants on the same terms.
Gamida Cell intends to use the net proceeds from this offering, together with its existing capital to fund commercialization activities to support the launch of its newly approved allogeneic cell therapy Omisirge; to continue clinical development of pipeline candidate GDA-201, an intrinsic NK cell therapy candidate being investigated for the treatment of hematologic malignancies; and for general corporate purposes.
Omisirge was approved for use in adult and pediatric patients 12 years and older with hematologic malignancies planned for umbilical cord blood transplantation following myeloablative conditioning to reduce the time to neutrophil recovery and the incidence of infection.
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