ADC Therapeutics
ADCT announced that it has made grants of options to purchase an aggregate of 17,000 of the company's common shares to one new employee on July 1, 2025.
Elevation Oncology
Elevation Oncology announced the completion of its merger with Concentra Biosciences. The company, with a market capitalization of approximately $21.6 million, has maintained a strong liquidity position. The ELEV stock was delisted from Nasdaq.
Mersana Therapeutics
Mersana announced that it will implement a 1-for-25 reverse stock split of the issued shares of the company’s common stock. One of the primary goals of the split is to increase the per-share market price of the company’s common stock to enable the company to regain compliance with the minimum bid price requirement for continued listing on Nasdaq.
Sutro Biopharma
Sutro has entered into a collaboration with FDA to develop reference materials to improve regulatory standards and enhance analytical methods for ADC drug development. The collaboration will leverage Sutro’s cell-free XpressCF technology to precisely engineer ADCs with predefined attributes, as well as FDA’s cutting-edge analytical capabilities to fully characterize these materials.
ImmunityBio
ImmunityBio has executed financing to provide further working capital and support its ongoing business operations. The company entered into a securities purchase agreement for a registered direct offering with two institutional investors, providing for the issuance of common stock of ImmunityBio as well as warrants, that is expected to result in gross proceeds at closing of approximately $80 million. If fully exercised, the warrants could result in additional gross proceeds of up to approximately $96 million.
Mural Oncology
Short interest of Mural increased by 9 % to 232,683 reported on July 15, compared to 212,773 on June 13.