Gamida Cell Ltd (GMDAQ)

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Gamida Cell shares slide after stock offering

Sep. 27, 2022 4:18 PM ETGamida Cell Ltd. (GMDA)

By: Shweta Agarwal, SA News Editor

Gamida Cell (NASDAQ:GMDA) has launched a follow-on public offering of its shares on Tuesday that is to grant underwriters an overallotment option to purchase an additional 15% of the offering.

The Israel-based development stage biopharma firm said it intends to use the net proceeds to fund omidubicel's commercial launch, for the the continued clinical development of its NK product candidates, including GDA-201 and for general corporate purposes.

GMDA stock is down 14% in after-hours trading.