Celyad SA: Up on funding from Belgian regional government
22/11/2019 13:51
** U.S. shares of Belgium-based drug developer CYAD.O up
12.7% at $12.84 premarket
** Receives 8.5 million euros ($9.39 million) in grants and
non-dilutive funding from the research and innovation department
of Walloon Region, part of southern Belgium urn:newsml:reuters.com:*:nBw6RtFnra
** Funds to support development of company's leukemia
experimental treatments: CYAD-01, which is in an early-stage
trial, and CYAD-02, which is beginning human trials from Dec
** Under terms of funding, company awarded 2.4 mln euros
grant and non-dilutive funding as recoverable cash advances for
6.1 mln euros; cash advance reimbursable over economic life of
company's projects
** Excluding Walloon Region funding, company confirms its
treasury position should be sufficient to fund operating and
expenditure requirements into first half of 2021
** Up to Thursday's close, stock had fallen 37.3% YTD
($1 = 0.9048 euros)
(Reporting by Ruhi Soni in Bengaluru)
((Ruhi.Soni@thomsonreuters.com;))