02:08 PM EDT, 09/11/2024 (MT Newswires) -- BriaCell Therapeutics ( BCTX ) on Wednesday announced the pricing of a best-efforts offering of 12.33-million shares, or pre-funded warrants, to raise US$8.5 million.

The offering, priced at-the-market under Nasdaq rules, consists of a share or pre-funded warrant being sold at US$0.69 per share, inclusive of the pre-funded warrant exercise price.

The offering is expected to close on Thursday, September 12.

Proceeds will be used for working capital, general corporate purposes, and the advancement of business objectives.

BriaCell earlier today announced longer overall survival rate in its Phase 2 study of Bria-IMT with an immune check point inhibitor (CPI) in late stage metastatic breast cancer.

The patients reported median overall survival of 15.6 months (treated since 2022) compared with 6.7-9.3 months for similar patients reported in the literature. The latest data are also an improvement over BriaCell's 13.4 months median overall survival that was reported last December. These patients are being treated with the same Bria-IMT formulation being used in the company's Phase 3 pivotal study in metastatic breast cancer.

BriaCell was last seen up $0.11 to $0.95, on the Toronto Stock Exchange.

Price: 0.95, Change: +0.11, Percent Change: +13.10