Cesca Therapeutics 7.53M share offering priced at $1.50 Cesca Therapeutics announced the pricing of an underwritten public offering of 7.53M units, consisting of an aggregate of 7.53M shares and warrants to purchase 2.259M shares of the, at a price of $1.50 per unit. The warrants will be exercisable immediately upon issuance at an exercise price of $1.55 per share and will expire five years from the date of issuance. All of the units in the offering are being sold by Cesca. The gross proceeds to Cesca from the offering are expected to be approximately $11.3M. The offering is expected to close on or about June 18. Maxim Group is acting as sole book-running manager and H.C. Wainwright & Co. is acting as a co-manager for the offering.
Cesca Therapeutics files IDE application for no-option critical limb ischemia Cesca Therapeutics has submitted an investigational device exemption application to the FDA for a pivotal multicenter study of the company's SurgWerks-CLI and VXP System for treating advanced stages of no-option lower limb critical limb ischemia. The IDE application is the result of two prior positive pilot and feasibility studies conducted in Italy and India, respectively, and collaborative pre-IDE feedback from the U.S. FDA. The primary endpoint is major amputation free survival at 12 months following enrollment.