By Chris Wack
Genelux shares were up 12% to $31.17 on Monday after the late-stage clinical-stage immuno-oncology company priced a private placement for 900,000 shares at $20 a share, for proceeds of $18 million.
Proceeds from this private placement, combined with a previous private placement and current cash and cash equivalents, are expected to extend Genelux’s cash runway into the first quarter of 2026.
Genelux intends to use the proceeds from the private placements for expansion of manufacturing capabilities, advancement of clinical programs, working capital, and general corporate purposes.
The clinical programs Genelux plans to fund with the proceeds include a Phase 3 registrational trial of Olvi-Vec in patients with platinum-resistant, refractory ovarian cancer.
Write to Chris Wack at [email protected]
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