Gamida Cell slides on pricing $20 mln share offering

Gamida Cell

28/09/2022 12:19

** Gamida Cell Ltd's  GMDA.O  shares down 20% premarket as
Israel-based biopharma prices follow-on
    ** GMDA sells ~12.9 mln shares at $1.55, 21% discount to
stock's last close  urn:newsml:reuters.com:*:nBw8xSw0ha
    ** Co to use net offering proceeds to fund commercial
readiness activities to support potential launch of omidubicel,
if approved, continued development of other product candidates
    ** U.S. FDA in Aug granted priority review to omidubicel,
co's experimental cell therapy for patients with cancers in need
of stem cell transplant
    ** Piper Sandler and JMP Secs jt bookrunners for offering
    ** GMDA late Tues said funds managed by Highbridge Capital
Management committed to provide $25 mln term loan convertible
into co's shares  urn:newsml:reuters.com:*:nL8N30Y5WN
    ** Co has ~60 mln shares outstanding for ~$118 mln market
cap, per Refinitiv, and ~41.5 mln shares of free float
    ** Shares down ~23% YTD through Tues close and roughly 60%
below 1-yr high hit in Mar
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))