Alaunos Completes Velaris Acquisition, Adds Paragon Leadership and Financing Into 2029
TCRT has more than doubled off its 52-week low of $0.719 on elevated volume (38× avg).
Summary
Alaunos closed its acquisition of Velaris Therapeutics, adding ActRII-Fc ligand traps and other candidates for pulmonary arterial hypertension. The deal brings a leadership team from Paragon Labs, including former Apogee executives, and financing that supports operations into 2029. The stock is up 70% pre-market to $1.78, following a 33% gain on Monday. This follows the Nasdaq delisting notice on October 9 and the $350 million private placement disclosed in the 8-K today. The acquisition and financing materially improve the company's cash runway and pipeline, though the delisting fight remains a key risk.
Updates
· Dow Jones Newswires — The $350 million private placement was oversubscribed.
At the time of this announcement, TCRT was trading at $1.77 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $5.2M. The 52-week trading range was $0.72 to $4.50. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.