Gamida Cell Ltd (GMDAQ)

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Gamida Cell prices $65M equity offering, stock +6%

Dec. 17, 2020 9:52 AM ETGamida Cell Ltd. (GMDA)By: Shweta Agarwal, SA News Editor

Gamida Cell (GMDA +4.6%) prices public offering of 8,125,000 common shares at a price of $8/share.
Underwriters' have been granted overallotment option to purchase up to an additional 1,218,750 shares.

The company intends to use the net proceeds to fund (i) the preparation of a potential commercial launch of omidubicel; (ii) the continued clinical development of its product candidates, including GDA-201; (iii) the expansion of its commercial manufacturing capabilities; and (iv) general corporate purposes.
The offering is expected to close on Dec. 21, 2020.