Crispr Therapeutics shares tumble after significant earnings miss
In a challenging market environment, Cellectis (NASDAQ:CLLS) stock has reached a new 52-week low, dipping to $1.14, representing a stark decline from its 52-week high of $3.38. According to InvestingPro analysis, the stock appears undervalued at current levels, with analysts setting price targets ranging from $3 to $10. The biopharmaceutical company, which specializes in developing immunotherapies based on gene-edited T-cells, has seen its shares tumble as investors navigate a landscape of regulatory hurdles and shifting market sentiments. Despite showing remarkable revenue growth of 435% and maintaining a healthy balance sheet with more cash than debt, the company’s stock has declined 56.36% over the past year. This latest price level reflects investor concerns and the broader biotech sector’s volatility, with a beta of 3.28 indicating significant price swings. While the company faces challenges with profitability, InvestingPro data reveals 6 additional key insights about Cellectis’s financial health and future prospects in their comprehensive Pro Research Report, available exclusively to subscribers.
In other recent news, Cibus Inc. has successfully secured approximately $22.6 million through a registered direct offering. This transaction includes the sale of 9,040,000 shares of Class A common stock, along with pre-funded warrants and equal warrants to purchase additional shares, each priced at $2.50. The offering is set to close around January 24, 2025, subject to customary conditions. The proceeds are intended to advance Cibus’s pipeline of productivity traits and address general corporate needs. A.G.P./Alliance Global Partners (NYSE:GLP) acted as the sole placement agent for this offering. Additionally, the company has amended existing Investor Warrants, reducing their exercise price to $2.50 per share and extending their termination date, with some exceptions requiring further stockholder approval. These recent developments highlight Cibus’s efforts to secure long-term financing and focus on advancing its gene-editing technology.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.