Gamida Cell drops on pricing stock deal

Gamida Cell

19/04/2023 14:14

** Gamida Cell Ltd's  GMDA.O  shares down ~20% at $1.35
premarket after follow-on prices
    ** Israeli firm announces 17.5 mln shares and warrants to
buy up 17.5 mln shares at $1.30, 23.1% discount to stock's Tues
close
    ** Co to use net offering proceeds to fund commercialization
activities for launch of Omisirge, its blood cancer therapy
    ** GMDA shares have roughly doubled over past two sessions
after U.S. FDA approved Omisirge for cutting risk of infection
    ** Co has ~81.5 mln shares outstanding per Refinitiv data,
and ~59.6 mln of free float
    ** YTD, shares up 31% through Tues
    ** Piper Sandler sole underwriter for equity offering

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))