Cellectis Announces Withdrawal of Follow-On Offering
Published on December 15, 2020 in New York, NY
December 15, 2020 – New York (N.Y.) – Cellectis (Euronext Growth: ALCLS - Nasdaq: CLLS), a clinical-stage biopharmaceutical company focused on developing immunotherapies based on gene-edited allogeneic CAR T-cells (UCART), today announced that it has withdrawn the proposed underwritten offering of American Depositary Shares (“ADS”) due to market conditions.
The Company believes that it is not in the best interest of its stockholders to raise the equity capital in the current market environment. Cellectis remains well capitalized with a cash position at the end of the third quarter of 2020 of $308 [1] million to fund its key programs into 2022.
Cellectis is well positioned on all fronts, and the entire team remains steadfast in its mission to develop innovative product candidates to benefit cancer patients.
[1] Cash position includes cash, cash equivalents and current financial assets and restricted cash. Restricted cash was $26 million as of September 30, 2020.