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HOUSTON - Alaunos Therapeutics, Inc. (NASDAQ:TCRT), whose stock has surged over 34% in the past week according to InvestingPro data, has secured approximately $2 million in gross proceeds through a registered direct offering, according to a press release statement issued Monday.
The clinical stage biotechnology company sold 610,399 shares of common stock (or pre-funded warrants) at $3.36 per share to certain investors. The transaction, which was arranged on June 20, 2025, was priced based on the 5-day average Nasdaq official closing price. With a market capitalization of just $7 million and negative EBITDA of $4.16 million in the last twelve months, the company faces significant financial challenges.
After deducting offering expenses, Alaunos expects to receive net proceeds of approximately $1.9 million, which the company intends to use for its obesity program and general corporate purposes.
The offering is expected to close on or about June 24, 2025, subject to customary closing conditions. It was made pursuant to a shelf registration statement on Form S-3 previously filed with the U.S. Securities and Exchange Commission and declared effective on September 7, 2022.
Alaunos Therapeutics is a preclinical stage company focused on developing treatments for obesity and metabolic disorders. The company states its approach differs from current market offerings by not relying on hormonal manipulation, which is common in many obesity treatments.
The company aims to develop an oral obesity compound that addresses what it considers shortcomings of injectable GLP-1 receptor agonists, including preserving lean muscle mass. InvestingPro analysis indicates the stock is currently trading near its Fair Value, with analysts anticipating sales decline in the current year. Subscribers can access 15+ additional ProTips and detailed financial metrics to make more informed investment decisions.
In other recent news, Alaunos Therapeutics announced a private placement agreement to sell preferred stock, raising $500,000 in new capital. The transaction involved the issuance of Series A-1 Convertible Preferred Stock, priced at $1,000 per share, with a dividend rate of 10% per annum. This strategic financial move was completed with Watermill Asset Management as the purchaser. Additionally, Alaunos Therapeutics disclosed the resignation of Dr. Robert Hofmeister from its board of directors, effective immediately. The company clarified that Dr. Hofmeister’s departure was not due to any disagreements with its operations, policies, or practices. As of now, Alaunos has not announced a successor or detailed the process for filling the vacant board seat. These developments represent routine corporate governance matters and strategic financial planning for the company.
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