CytoMed Therapeutics Launches New ATM Offering Program for Growth
Introduction to the ATM Offering Program
CytoMed Therapeutics Limited (NASDAQ: GDTC), a pioneering biopharmaceutical company, has taken a significant step in its growth strategy by announcing an At-the-Market (ATM) offering program. By entering into a Sales Agreement with R.F. Lafferty & Co., Inc., the Company is poised to broaden its financial horizons and capitalize on market opportunities.
Details of the Offering
Through this Sales Agreement, CytoMed has the ability to offer and sell ordinary shares valued at up to USD 4,304,945. The Company holds the discretion to determine the timing and amount of sales, closely aligning them with prevailing market conditions and capital needs.
Planned Use of Proceeds
The funds raised from the ATM program are earmarked for general corporate purposes, which could encompass business diversification, development initiatives, and capital expenditures. Moreover, a portion of the proceeds might enable the Company to explore potential acquisitions or strategic investments, enhancing its existing capabilities in the biopharmaceutical space.
Recent Company Developments
CytoMed has experienced notable growth since acquiring a cord blood bank, resulting in approximately 2,500 new customer sign-ups, which is anticipated to contribute positively to its revenue stream this fiscal year. These developments reflect the Company's commitment to expanding its innovative offerings while solidifying its position in the therapeutic industry.
About CytoMed Therapeutics Limited
Founded in 2018, CytoMed Therapeutics emerged from the Agency for Science, Technology and Research, Singapore’s prestigious research and development organization. The Company is dedicated to leveraging its proprietary technologies, notably gamma delta T cell and iPSC-derived gamma delta Natural Killer T cells, to pioneer novel cell-based allogeneic therapies targeted at various cancers.
Focus on Innovation and Research
CytoMed’s mission centers around advancing cell-based immunotherapies. Inspired by the clinical success stories of CAR-T therapies, the Company seeks to transcend existing limitations and apply innovative solutions to solid tumors, thus broadening the scope of successful treatments available to patients.
Future Outlook
The announcement of the ATM offering reflects CytoMed’s proactive approach to generating capital and sustaining its innovative journey. The Company remains committed to updating its shareholders as new information unfolds, reinforcing transparency in its growth strategy.
Frequently Asked Questions
What is the purpose of the ATM offering program?
The ATM offering program aims to raise capital for general corporate purposes, including potential acquisitions and business development initiatives.
How much can CytoMed raise through this program?
CytoMed can raise up to USD 4,304,945 through the ATM offering program.
What are the recent achievements of CytoMed Therapeutics?
The Company has successfully signed up around 2,500 new customers for its cord blood bank, contributing to increased revenues.
When was CytoMed Therapeutics founded?
CytoMed Therapeutics was founded in 2018 after spinning off from Singapore's Agency for Science, Technology and Research.
What technologies is CytoMed focusing on?
The Company specializes in gamma delta T cells and iPSC-derived gamma delta Natural Killer T cells for innovative cancer therapies.
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