BriaCell announces public offering of common shares

PHILADELPHIA and VANCOUVER, British Columbia - BriaCell Therapeutics Corp., a clinical-stage biotechnology company specializing in immunotherapies for cancer care, announced today its plans to conduct a best-efforts public offering of common shares. With a current market capitalization of $2.5 million and an EBITDA of -$4.22 million, the company is actively seeking to strengthen its financial position. The completion and terms of the offering are contingent on market conditions, and there is no certainty regarding the completion or the specifics of the offering.

The company, which is interlisted on Nasdaq (NASDAQ:BCTX, BCTXW) and the Toronto Stock Exchange (TSX:BCT), stated that the offering would be conducted in accordance with Section 602.1 of the TSX Company Manual. This section exempts certain transactions from standard requirements for eligible issuers listed on recognized exchanges like Nasdaq. According to InvestingPro analysis, the company’s stock has shown relatively low price volatility despite challenging market conditions, with 8 additional key insights available to subscribers.

ThinkEquity is serving as the sole placement agent for the offering. BriaCell intends to allocate the net proceeds from the offering towards working capital, general corporate purposes, and furthering their business objectives. InvestingPro data reveals the company’s current ratio stands at 1.15, while revenue reached $0.32 million in the last twelve months, highlighting the importance of this capital raise for future growth.

The offering will be made in accordance with a previously filed shelf registration statement on Form S-3, which became effective on January 31, 2024. Prospective investors are advised to thoroughly review the preliminary prospectus supplement, the accompanying prospectus, and other relevant documents filed with the U.S. Securities and Exchange Commission, available on the SEC’s website, before making an investment decision.

BriaCell has emphasized that this press release does not constitute an offer to sell or a solicitation of an offer to buy the securities, and that the securities will not be sold in jurisdictions where such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

The company’s forward-looking statements regarding the proposed offering and the anticipated use of proceeds are subject to risks, uncertainties, and assumptions. These statements are not guarantees of future performance, and actual results could differ materially.

This news article is based on a press release statement from BriaCell Therapeutics Corp.

In other recent news, BriaCell Therapeutics Corp. has declared a public offering of common shares and warrants, with the specifics of the offering contingent on market conditions. The biotechnology firm, with a trailing twelve-month revenue of $0.32 million, plans to use the net proceeds for working capital, general corporate purposes, and furthering its business objectives. The securities will be offered via a shelf registration statement on Form S-3, filed with the U.S. Securities and Exchange Commission.

In parallel, BriaCell has announced the pricing of two additional public offerings. The first, a $5 million share and warrant offering, is priced at $0.975 per share and associated warrant. The second, an $8.5 million common share offering, is priced at $0.69 per share. Both offerings’ net proceeds are intended for similar purposes, with ThinkEquity acting as the sole placement agent.

In terms of product development, BriaCell has made significant progress with its immunotherapy candidate, Bria-PROS+. The U.S. Food and Drug Administration has offered positive feedback and waived certain study requirements, simplifying the path for BriaCell to proceed with a Phase 1/2 clinical study of Bria-PROS+. These are among the recent developments for the company.

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