CERo Therapeutics Raises Up To $8 Mln To Advance T Cell Therapy Programs
(RTTNews) - CERo Therapeutics Holdings, Inc. (CERO), a biotech company focused on next-generation engineered T cell immunotherapies using phagocytic mechanisms, has announced a securities purchase agreement for a new convertible preferred stock offering.
The transaction is expected to generate up to $8 million in gross proceeds for CERo. This includes an initial $5 million investment at the first closing and an additional $3 million that may be funded in one or more subsequent closings at the investors' discretion.
The company plans to use the net proceeds to support its clinical development programs, particularly following two recent FDA Investigational New Drug or IND allowances in both liquid and solid tumor indications. Funds will also be allocated to finalize site activation at MD Anderson Cancer Center and expedite the onboarding of additional trial sites.
The company clarified that this announcement does not constitute an offer to sell or a solicitation to buy the securities and is subject to relevant securities laws in applicable jurisdictions.
CERO is currently trading at $0.7408, or 16.0401% higher on the Nasdaq Capital Market.
