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Celldex Therapeutics Raises $250M Via Equity To Support Development Of Skin Disease Candidate

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Celldex Therapeutics Raises $250M Via Equity To Support Development Of Skin Disease Candidate
  • Celldex Therapeutics Inc (NASDAQ: CLDX) has priced an underwritten public offering of around 5.9 million shares at $42.00 per share, representing a discount of about 6% from the last close price of $44.6 on Tuesday.
  • Gross proceeds are expected to approximately $250 million.
  • The Company previously announced to offer $175 million in shares.
  • Underwriters have an option to purchase up to an additional 892,857 shares.
  • Jefferies, SVB Leerink, Guggenheim Securities, and Cantor are acting as the joint book-running managers for the offering. 
  • LifeSci Capital LLC and H.C. Wainwright & Co. are acting as co-lead managers for the offering.
  • Celldex will use the proceeds to fund the development of CDX-0159 and for general corporate purposes.
  • The offering will close by July 16.
  • Recently, the Company shared positive Phase 1b trial data of CDX-0159 in patients with antihistamine refractory cold urticaria and symptomatic dermographism.
  • Price Action: CLDX shares are down 2.65% at $43.42 premarket on the last check Wednesday.
 

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Posted-In: BriefsBiotech News Health Care Financing Offerings Small Cap General

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