BriaCell Therapeutics Announces Closing of $8.5 Million Offering
BriaCell Therapeutics Corp. (Nasdaq: BCTX, BCTXW; TSX: BCT) has successfully closed its previously announced best-efforts offering, raising approximately $8.5 million in gross proceeds. The clinical-stage biotechnology company, focused on developing novel immunotherapies for cancer care, sold 12,325,000 common shares at $0.69 per share. ThinkEquity acted as the sole placement agent for this at-the-market offering under Nasdaq rules.
The company plans to use the net proceeds for working capital requirements, general corporate purposes, and advancing business objectives. The securities were offered through BriaCell's effective shelf registration statement on Form S-3, with a prospectus supplement and prospectus filed with the SEC.
BriaCell Therapeutics Corp. (Nasdaq: BCTX, BCTXW; TSX: BCT) ha chiuso con successo l'offerta di best-efforts precedentemente annunciata, raccogliendo circa 8,5 milioni di dollari in proventi lordi. La società biofarmaceutica in fase clinica, concentrata sullo sviluppo di nuove immunoterapie per la cura del cancro, ha venduto 12.325.000 azioni ordinarie a 0,69 dollari per azione. ThinkEquity ha agito come unico agente di collocamento per questa offerta sul mercato in conformità alle norme Nasdaq.
La società prevede di utilizzare i proventi netti per esigenze di capitale circolante, scopi aziendali generali e per portare avanti gli obiettivi aziendali. I titoli sono stati offerti attraverso il documento di registrazione con effetto di BriaCell su modulo S-3, con un supplemento di prospetto e prospetto depositati presso la SEC.
BriaCell Therapeutics Corp. (Nasdaq: BCTX, BCTXW; TSX: BCT) ha cerrado con éxito su oferta de mejores esfuerzos previamente anunciada, recaudando aproximadamente 8.5 millones de dólares en ingresos brutos. La empresa biotecnológica en etapa clínica, enfocada en desarrollar nuevas inmunoterapias para el tratamiento del cáncer, vendió 12,325,000 acciones comunes a 0.69 dólares por acción. ThinkEquity actuó como el único agente de colocación para esta oferta en el mercado bajo las reglas de Nasdaq.
La compañía planea usar los ingresos netos para requisitos de capital de trabajo, fines corporativos generales y avanzar en los objetivos comerciales. Los valores se ofrecieron a través de la declaración de registro efectiva de BriaCell en el Formulario S-3, con un suplemento de prospecto y prospecto presentado ante la SEC.
BriaCell Therapeutics Corp. (Nasdaq: BCTX, BCTXW; TSX: BCT)는 이전에 발표된 최선의 노력을 다하는 공모를 성공적으로 마감하고 약 8.5백만 달러의 총 수익을 올렸습니다. 암 치료를 위한 새로운 면역 요법 개발에 집중하는 임상 단계 생명공학 회사는 12,325,000주의 보통주를 주당 0.69달러에 판매했습니다. ThinkEquity는 Nasdaq 규정에 따라 이 시장 기반 공모의 독점 배치 대리인으로 활동했습니다.
회사는 순수익을 운영 자본 요구 사항, 일반 기업 용도 및 비즈니스 목표 진행에 사용할 계획입니다. 증권은 BriaCell의 유효한 선반 등록 성명서 S-3 양식에 따라 제공되었으며, SEC에 제출된 보충 설계서와 설계서와 함께 제공되었습니다.
BriaCell Therapeutics Corp. (Nasdaq: BCTX, BCTXW; TSX: BCT) a réussi à conclure son offre de meilleurs efforts précédemment annoncée, levant environ 8,5 millions de dollars en produits bruts. La société de biotechnologie en phase clinique, axée sur le développement de nouvelles immunothérapies pour le traitement du cancer, a vendu 12 325 000 actions ordinaires à 0,69 dollar par action. ThinkEquity a agi en tant qu'agent de placement exclusif pour cette offre sur le marché conformément aux règles de Nasdaq.
La société prévoit d'utiliser les produits nets pour les besoins de fonds de roulement, les fins générales de l'entreprise et l'avancement des objectifs commerciaux. Les valeurs mobilières ont été offertes par le biais de la déclaration d'enregistrement effective de BriaCell sur le formulaire S-3, avec un supplément de prospectus et un prospectus déposés auprès de la SEC.
BriaCell Therapeutics Corp. (Nasdaq: BCTX, BCTXW; TSX: BCT) hat erfolgreich sein zuvor angekündigtes Best-Efforts-Angebot abgeschlossen und dabei etwa 8,5 Millionen Dollar an Bruttoerlösen gesammelt. Das biopharmazeutische Unternehmen in der klinischen Phase, das sich auf die Entwicklung neuer Immuntherapien zur Krebsbehandlung konzentriert, verkaufte 12.325.000 Stammaktien zu einem Preis von 0,69 Dollar pro Aktie. ThinkEquity fungierte als alleiniger Platzierungsagent für dieses Marktplatzangebot gemäß den Nasdaq-Vorschriften.
Das Unternehmen plant, die Nettomittel für Betriebs- und allgemeine Unternehmenszwecke sowie zur Förderung der Unternehmensziele zu verwenden. Die Wertpapiere wurden durch die effektive Registerstatement von BriaCell auf dem Formular S-3 angeboten, mit einem Prospektzusatz und Prospekt, die bei der SEC eingereicht wurden.
- Raised $8.5 million in gross proceeds through share offering
- Successful closing of previously announced best-efforts offering
- Funds to be used for working capital and advancing business objectives
- Potential dilution of existing shareholders due to new share issuance
- Offering price of $0.69 per share may indicate low market valuation
Insights
BriaCell's
The
This financing, while necessary for BriaCell's operations, highlights the challenging funding environment for early-stage biotech companies. The modest size and pricing of the offering suggest investor caution, possibly due to the company's early clinical stage and the competitive landscape in cancer immunotherapy.
However, BriaCell's focus on novel immunotherapies in oncology remains a hot area with significant potential. The key for investors will be tracking the progress of BriaCell's pipeline, particularly any upcoming data readouts or regulatory milestones. These events could serve as catalysts for revaluation and potentially more favorable future financing terms.
The offering's timing and terms reflect the broader market dynamics affecting small-cap biotech stocks. With rising interest rates and economic uncertainties, investors are increasingly risk-averse, leading to challenging capital-raising conditions for pre-revenue biotechs.
BriaCell's ability to secure this funding, albeit at a discount, demonstrates some investor confidence in its potential. However, the company now faces increased pressure to deliver tangible progress in its clinical programs. Investors should watch for upcoming catalysts, such as interim data releases or partnership announcements, which could significantly impact BriaCell's valuation and future financing prospects.
PHILADELPHIA and VANCOUVER, British Columbia, Sept. 12, 2024 (GLOBE NEWSWIRE) -- BriaCell Therapeutics Corp. (Nasdaq: BCTX, BCTXW) (TSX: BCT) (“BriaCell” or the “Company”), a clinical-stage biotechnology company that develops novel immunotherapies to transform cancer care, today announced the closing of its previously announced best-efforts offering priced at-the-market under Nasdaq rules for 12,325,000 common shares. Each common share was sold at an offering price of
The Company intends to use the net proceeds from the offering for working capital requirements, general corporate purposes, and the advancement of business objectives.
ThinkEquity acted as sole placement agent for the offering.
The securities were offered and sold pursuant to the Company’s currently effective shelf registration statement on Form S-3 (File No. 333-276650), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 22, 2024 and declared effective on January 31, 2024. The offering was made by means of a prospectus supplement and prospectus which have been filed with the SEC and available on the SEC’s website at www.sec.gov. You should read the applicable prospectus supplement and prospectus for more complete information about the Company and the offering. You may obtain these documents free of charge by visiting the SEC website at www.sec.gov. Alternatively, you may obtain copies by contacting ThinkEquity, 17 State Street, 41st Floor, New York, New York 10004.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About BriaCell Therapeutics Corp.
BriaCell is a clinical-stage biotechnology company that develops novel immunotherapies to transform cancer care. More information is available at https://briacell.com/.
Forward-Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements, including those about BriaCell replicating positive data in its ongoing Phase 3 study; BriaCell’s Bria-IMT™ regimen bringing relief to cancer patients whose medical needs remain unmet; and the Bria-IMT™ regimen becoming a therapeutic option for metastatic breast cancer patients, are based on BriaCell’s current expectations and are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully under the heading “Risks and Uncertainties” in the Company’s most recent Management’s Discussion and Analysis, under the heading “Risk Factors” in the Company’s most recent Annual Information Form, and under “Risks and Uncertainties” in the Company’s other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under the Company’s profiles on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Forward-looking statements contained in this announcement are made as of this date, and BriaCell Therapeutics Corp. undertakes no duty to update such information except as required under applicable law.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
Company Contact:
William V. Williams, MD
President & CEO
1-888-485-6340
info@briacell.com
Media Relations:
Jules Abraham
CORE IR
julesa@coreir.com
Investor Relations Contact:
CORE IR
investors@briacell.com
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