Celsion Corporation (NASDAQ:CLSN) shares are trading at their highest level since early July after the company terminated a stock sale agreement.
Celsion revealed in SEC filing it has notified Lincoln Park Capital Fund regarding termination of the stock purchase agreement signed between both parties on Sept. 8. Celsion was vested with the right to sell to Lincoln Park Capital up to $26 million of shares of the company over the 36-month term, according to the 2020 agreement.
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Celsion is a fully integrated oncology company focused on developing a portfolio of innovative cancer treatments, including immunotherapies, DNA-based therapies and directed chemotherapies.
At last check, Celsion shares were rallying 30.98% to $1.67.