Cyclacel (NASDAQ: CYCC), a biopharmaceutical company developing innovative medicines based on cancer cell biology, has closed an underwritten public offering of 2,078,214 shares of its common stock, including 271,071 additional shares per the full exercise of the over-allotment option granted to the underwriters. Cyclacel secured approximately $14.5 million in gross proceeds, with each of the shares sold at the public offering price of $7.00. The company intends to use the proceeds from the offering to support its growth strategy, as well as for working capital and general corporate purposes, including research and development expenses and capital expenditures. Roth Capital Partners acted as co-manager for the offering.
To view the full press release, visit https://nnw.fm/ZEfy2
About Cyclacel Pharmaceuticals Inc.
Cyclacel is a clinical-stage, biopharmaceutical company developing innovative cancer medicines based on cell cycle, transcriptional regulation and mitosis biology. The transcriptional regulation program is evaluating fadraciclib, a CDK2/9 inhibitor, and the anti-mitotic program CYC140, a PLK1 inhibitor, in patients with both solid tumors and hematological malignancies. Cyclacel’s strategy is to build a diversified biopharmaceutical business based on a pipeline of novel drug candidates addressing oncology and hematology indications. For more information about the company, visit www.Cyclacel.com.
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.NetworkNewsWire.com
NetworkNewsWire is part of the InvestorBrandNetwork