CYAD - CYAD STOCK NEWS

Celyad Oncology announces commitments for capital increase of EUR 9.8 million at a subscription price of EUR 0.52 per share, representing a 5% discount to the 30-day VWAP. Proceeds will be used for research and development, pipeline advancement, and working capital. Fortress to hold 29.99% of share capital, Tolefi to hold approximately 16%. Additional capital increase planned for EUR 7.75 million, subject to approval. Company expects existing cash to be sufficient until end of Q4 2024. Fortress and Tolefi to have certain rights and lock-up obligations as part of the investment.

Celyad Oncology announces a capital increase of approximately EUR 9,800,000 with commitments from Fortress Investment Group and Tolefi SA. The subscription price of EUR 0.52 per share represents a 5% discount to the 30-day VWAP. The funds will be used for research and development, advancing the CAR-T pipeline, and working capital. Fortress will hold 29.99% of the Company's share capital and Tolefi will hold approximately 16% of the Company's share capital. The private placement and subsequent capital increase are expected to strengthen the Company's balance sheet and improve its cash position in the short term.

Celyad Oncology announces voluntary delisting of its ADSs from Nasdaq

Celyad Oncology reports Q1 2023 financial results and provides business update. Highlights include the validation of their shRNA multiplexing platform and positive results from the NKG2D-based CAR T-cell trial.

Celyad Oncology (CYAD) received a Bid Price Notice from Nasdaq on April 19, 2023, indicating its American Depositary Shares (ADSs) were below the $1.00 minimum closing bid price for 30 consecutive business days. The Company has until October 16, 2023, to regain compliance by maintaining a price of at least $1.00 for ten consecutive days. If compliance is not achieved, the ADSs may be transferred to Nasdaq Capital Market or subjected to delisting. Additionally, on March 31, 2023, Celyad received a Stockholders’ Equity Notice from Nasdaq for not meeting the $10 million stockholders’ equity requirement, reporting approximately $4.6 million as of December 31, 2022. The Company has until May 15, 2023, to submit a compliance plan. Despite these notices, Celyad states that its business operations remain unaffected.

Celyad Oncology (Euronext & Nasdaq: CYAD) received a notice from Nasdaq on March 31, 2023, indicating it failed to meet the required stockholders' equity of $10 million. Celyad reported approximately $4.6 million in equity as of December 31, 2022. The company has until May 15, 2023, to submit a plan to regain compliance. Nasdaq may grant a 180-day extension if the plan is accepted. The letter does not immediately affect the listing or trading of Celyad's American Depositary Shares under the symbol CYAD.

Celyad Oncology (CYAD) announces the appointment of Georges Rawadi as the new CEO, effective March 23, 2023. Rawadi, a seasoned executive with 20+ years in pharma/biotech, has previously held significant roles within Celyad and other biotech firms. He will officially start on April 17, 2023, while Michel Lussier remains as Interim CEO until then. The Board has expressed confidence in Rawadi's leadership abilities and his expertise in CAR-T therapies to drive growth and development. Rawadi emphasizes his commitment to harnessing Celyad's intellectual property to overcome limitations in CAR-T approaches.

Celyad Oncology (CYAD) announced a shift in strategy focused on enhancing CAR-T therapies through its research on NKG2D, B7-H6, and shRNA platforms. The company reported a net loss of €40.9 million for 2022, an increase compared to €26.5 million in 2021, primarily due to a €35.1 million impairment of oncology intangible assets. As of December 31, 2022, Celyad had cash reserves of €12.4 million, projected to fund operations into Q4 2023, but anticipates needing additional financing within the next 12 months. Upcoming milestones include updates on research platforms and the introduction of a new CEO in 2023.