By Chris Wack

Century Therapeutics shares were 37% higher, at $1.78, after the company said it has entered into a securities-purchase agreement for a private placement for initial gross proceeds of about $135 million.

The stock hit its 52-week high of $1.80 earlier in the session, and is up 64% in the past 12 months.

The Philadelphia-based biotechnology company on Thursday said the financing is being led by new investor TCGX and includes participation from additional new and existing investors, including RA Capital Management, Commodore Capital, and Deep Track Capital.

The private placement is expected to close Friday.

Century Therapeutics said it will issue about 117.4 million shares and accompanying warrants to buy 58.7 million shares in the private placement at $1.15 per share and accompanying warrant.

Century said it intends to use the proceeds from the private placement to fund development of its lead product candidate, CNTY-813, and for working capital and other general corporate purposes.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

January 08, 2026 10:06 ET (15:06 GMT)

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