Shots:
- Galera has completed Nova’s acquisition to form Galera Therapeutics, trading on OTC under GRTX ticker. Acquisition was backed by a $3M investment from a group of investors led by Ikarian Capital
- Galera issued 21.1M common shares, pre-funded warrants for 23M shares & 119,318 Series B convertible preferred shares. At closing, Galera stockholders will own ~55.2% of shares (assuming full warrant exercise) & post preferred stock conversion approval, they will own 25%, with new investors & Nova stockholders owning 75% of the combined entity
- The entity will advance P-I/II study of pan-NOS inhibitor + nab-paclitaxel & alpelisib in MpBC, with another trial exploring it in TNBC. A P-III trial of avasopasem for HR+ ABC resistant to conventional therapy is planned in H1’25
Ref: Galera Therapeutics | Image: Nova Pharmaceuticals
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