Home Uncategorized Selecta Biosciences raises $ 39 million in stock + deal with warrants

Selecta Biosciences raises $ 39 million in stock + deal with warrants


Selecta Biosciences ( SELB) announced on Wednesday the placement of ordinary shares and warrants, which brought in gross income of $ 38.7 million.

Biotechnology company Watertown, Massachusetts, sold 27,428,572 shares of its common stock and warrants to buy up to 20,571,429 shares at a total placement price of $ 1.41.

Each share sold was accompanied by a warrant for the purchase of 0.75 shares at a strike price of $ 1.55 per share. Warrants that will not be traded are subject to immediate implementation and will expire in five years.

Selecta develops treatments for serious and debilitating diseases that selectively alleviate adverse immune responses.

Video source: Selecta Biosciences

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Investment dissertation

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Selecta Biosciences went public in June 2016, raising $ 70 million in gross revenue at $ 14 per share when capitalized after paying out about $ 250 million.

Shareholders have been disappointed with the company’s clinical progress to date, but at the current level we see potential for investors with a long horizon and a high tolerance for risk.

  • At the close of $ 1.30 per share on Wednesday, the company’s market capitalization is just $ 165 million.
  • As of December 31, 2021, Selecta had $ 129 million in cash and cash equivalents.
    • This latest offer of stocks and warrants gives investors a virtually free call option in the company’s portfolio of therapeutic candidates.
  • Last month, the FDA discontinued its clinical application of the company’s gene therapy program for the Methylmalon Academy (MMA).
  • The company earns revenue from numerous collaboration agreements with companies including: AskBio, Sobi, Sarepta, Cyrus Biotechnology, Takeda, Genovis and Gingko Bioworks.
  • The Selecta Accurate Immune Tolerance Platform has the potential to restore self-tolerance to autoimmune diseases and to overcome the immunogenicity of gene therapy and biologics across a wide range of indications.

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Image source: Selecta Biosciences


Source: Stock news

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