08:04 AM EDT, 05/30/2024 (MT Newswires) -- Celcuity ( CELC ) said Thursday it has priced its offering of about 3.8 million common shares at $15.50 per share for gross proceeds of $60 million.

Investors, including BVF Partners, Vivo Capital, Eventide Asset Management, have agreed to purchase shares in the offering.

Proceeds from the offering, which is expected to close around Friday, will be used for working capital and general corporate purposes, including capital expenditures, research and development expenditures and clinical trial expenditures.

The company said it expects its existing cash and cash equivalents, together with the net proceeds from this offering, would be sufficient to fund operations through at least H2 2026.

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