Context Therapeutics (NASDAQ:CNTX) Inc said it has completed its previously-announced private placement, raising gross proceeds of about $31.3 million, before deducting offering expenses, by issuing 5 million of its common shares together with 5 million common share purchase warrants.
Each share of the offering and accompanying warrant were sold at a combined offering price of $6.25, with the warrants having a five and one-half year term and an exercise price of $6.25 per share.
ThinkEquity acted as sole placement agent for the offering.
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Context Therapeutics (NASDAQ:CNTX) is developing small molecule and immunotherapy treatments to transform care for breast and gynecological cancers.
The company’s clinical program for lead candidate onapristone extended-release (ONA-XR) comprises three Phase 2 clinical trials and one Phase 1b/2 clinical trial in hormone-driven breast, ovarian and endometrial cancer, as well as two Phase 0 biomarker pharmacodynamic trials in breast cancer.
ONA-XR is a novel, first-in-class small molecule under development as a complete antagonist of the progesterone receptor, a key unchecked mechanism in hormone-driven women’s cancers.
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