Ocata Therapeutics prices $30 million common stock offering
Marlborough's Ocata Therapeutics is expecting to net over $30 million in a stock offering, after the company announced pricing for the stock Wednesday.
The company, formerly Advanced Cell Technology, has priced an offering of 5.5 million shares of common stock and accompanying warrants to purchase an aggregate of 2,750,000 shares of common stock. The combined offering price of each share of common stock and accompanying warrant was $5.50. The offering is expected to close on June 22.
Ocata intends to use the net proceeds from the stock offer to fund its clinical activities, including the commencement of its Phase 2 AMD and pivotal SMD clinical trials, the advancement of its pre-clinical studies in other ocular indications and other programs
Ocata, a leader in the field of stem-cell treatment, reported a $34.7 million net loss in 2014, 12 percent higher than its net loss in 2013. The clinical-stage company is focused on developing regenerative ophthalmology therapeutics. It currently has no therapeutic products available for sale and said in the SEC filing it did not expect to have any commercially available treatments for a period of years, if at all.
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