Estrella Immunopharma Inc., a clinical stage biopharmaceutical company, has announced a private placement equity financing expected to generate approximately $3.35 million in gross proceeds. Under the securities purchase agreement, Estrella will issue 2,333,334 shares of common stock at $1.50 per share. The funds will be used to support the completion of Phase I of the STARLIGHT-1 clinical trial, which evaluates the EB103, a CD19-Redirected ARTEMIS® T-cell therapy, for treating relapsed/refractory B-cell non-Hodgkin's lymphoma. Estrella's CEO, Cheng Liu, expressed confidence in the potential of their ARTEMIS® T-cell therapy, stating that the financing will advance the clinical development of EB103. The closing of the private placement is subject to customary conditions, and the company will file a registration statement with the SEC for the resale of the securities.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.