Endotronics
This article was originally published in The Gray Sheet
Executive Summary
Changing its name to Cellex Biosciences, the company notes in a Feb. 26 filing with the Securities and Exchange Commission; the change is expected to take effect in April. The SEC filing registers a proposed public offering of 1.17 mil. units at $6 per unit. Each unit consists of six shares of common stock and six warrants, which will be redeemable six months from the date of the prospectus for one share of the company's common stock per warrant. Whale Securities is underwriting. The producer of cell- processing products and services will use the estimated net proceeds of $5.7 mil. for retirement and partial repayment of existing obligations, including the repayment of the firm's 1993 bridge financing. Funds also will be used for adaptation of the Oxycell bioreactor for incorporation into the firm's Acusyst-Xcell cell culture system and for working capital and general corporate purposes. In other news at the company, Vice President of Operations and Technology Bernard Horwath has been named vice president and general manager of the firm's new bioprocessing business unit. The unit includes Endotronics' cell culture instrumentation and contract production businesses.
You may also be interested in...
US Q1 Consumer Health Earnings Preview: Label This One Historic And Challenging But Promising
US OTC drug and supplement firms’ reports of results for the first three months of 2024 began on April 19 with P&G. JP Morgan analysts say while “some retailers in the US in particular” are reducing consumer health inventories, for the overall sector they expect “a healthier balance of positive volume and lower pricing contribution.”
Keeping Track: Cancer Approvals From Lumisight Imaging To Adjuvant Alecensa
The US FDA’s approval of Lumicell’s optical imaging agent Lumisight makes a dozen novel approvals in 2024 for the Center for Drug Evaluation and Research.
Partisan Politics Returns To US FDA Congressional Oversight
The US FDA has stood out as an agency that tends to draw broad bipartisan support amid a generally rancorous and divided Congress. A House hearing, however, may be a sign that those days are over.