Cellectis Completes Global Offering, Raises Over $24 Million
Clinical-stage biotech firm Cellectis announced the closing of its global offering, raising approximately $24.77 million. The underwriters' option to purchase additional shares further increased the capital raised.
Cellectis, a clinical-stage biotechnology company, has closed its previously announced global offering, raising gross proceeds of approximately $24.77 million. The offering included an initial issuance of American Depositary Shares (ADSs) and the exercise of an overallotment option by the underwriters, Jefferies LLC and Barclays Capital Inc., to purchase additional ADSs. The exercise of this option brought the total number of ADSs issued to 9,907,800.
The additional ADSs will trade on the Nasdaq Global Market under the symbol "CLLS," with ordinary shares listed on Euronext Growth in Paris under "ALCLS." The offering price was set at $2.50 per ADS. Following the exercise of the option, the company received net proceeds of approximately $22.78 million after deducting underwriting commissions and offering expenses.
Cellectis plans to allocate approximately $17 million of the net proceeds to fund the continued clinical development of its gene-edited cell therapies, specifically UCART123, UCART22, UCART20x22, and UCARTCS1. The remaining funds will be used for working capital and other general corporate purposes.
Based on the capital raised and expected operational cash flow, including potential collaboration payments and government funding, Cellectis anticipates it will have sufficient funds to operate into the second quarter of 2024.