November 4, 2020 8:21am
BLCM priced offering at $6.025 raising $25 million
Bellicum Pharmaceuticals (BLCM) closed its offering of 1,04 M shares, pre-funded warrants to purchase 3,109,378 shares of common stock and accompanying warrants to purchase up to 4,149,378 shares of common stock; priced at $6.025
H.C. Wainwright & Co. is acting as sole book-running manager for the offering.
The Bottom Line: I am shocked the offering was completed as the stock decelerated, I thought it would re-priced, pulled and/or postponed (?) as the interim trial results of BPX-601 were "encouraging" in terms of safety and GoCAR-T cell activation, but clinically meaningful efficacy was not observed (the basis for the offering(?) and pricing is well-off the mark. BLCM slashed its workforce by 79% as part of a restructuring, following disappointing data from a trial of its pancreatic cancer treatment.