The clinical-stage biopharma firm Oncternal Therapeutics (NSDQ:ONCT) has announced that an underwriter has agreed to purchase 16,666,667 shares of its common stock at $4.50 per share minus underwriting discounts and commissions. Oncternal expects to rake in approximately $75 million from the deal.
CEL-SCI (NYSEAMERICAN: CVM), a cancer immunotherapy company, has closed an offering of one million shares of its stock at $14.65 per share, which equates to roughly $14.65 million.
The total valuation of those two deals does not include underwriting discounts and other expenses.
Oncternal Therapeutics has also recently announced that updated interim clinical data from an ongoing Phase 1/2 trial. The study investigates the combination of the investigational monoclonal antibody Cirmtuzumab and the small-molecule drug Ibrutinib that targets ROR1, a receptor tyrosine kinase expressed in several cancers. The trial will focus on leukemia and lymphoma.
CEL-SCI also has an update of a Phase 3 study, confirming that it has completed a data lock for the trial and is proceeding with statistical analysis of the study data. The Phase 3 clinical trial took place in more than 20 countries, some of which faced severe shutdowns thanks to the COVID-19 pandemic.
CEL-SCI rose $10 million earlier this year to fund the expansion of Multikine cancer immunotherapy manufacturing facility near Baltimore.
Tell Us What You Think!