Cidara Announces Pricing of Upsized Public Offering of Common Stock

On June 24, 2025 Cidara Therapeutics, Inc. ("Cidara") (Nasdaq: CDTX), a biotechnology company using its proprietary Cloudbreak platform to develop drug-Fc conjugate (DFC) therapeutics, reported the pricing of an underwritten public offering of 7,954,546 shares of its common stock at a price to the public of $44.00 per share. All of the shares are to be sold by Cidara (Press release, Cidara Therapeutics, JUN 24, 2025, View Source [SID1234654084]).

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The gross proceeds to Cidara from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be $350.0 million. In addition, Cidara has granted the underwriters a 30-day option to purchase up to an additional 1,193,181 shares of its common stock at the public offering price, less underwriting discounts and commissions. The offering is expected to close on June 26, 2025, subject to the satisfaction of customary closing conditions.

J.P. Morgan, Morgan Stanley, Guggenheim Securities and Cantor are acting as joint book-running managers for the offering.

The offering is being made pursuant to a shelf registration statement on Form S-3 that was filed with the U.S. Securities and Exchange Commission (the "SEC") on May 8, 2025, and declared effective by the SEC on May 15, 2025. A preliminary prospectus supplement and accompanying prospectus relating to the proposed offering were filed with the SEC and are available for free on the SEC’s website located at View Source A final prospectus supplement and accompanying prospectus relating to the proposed offering will be filed with the SEC and will be available for free on the SEC’s website located at View Source Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from: J.P. Morgan Securities LLC, Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at [email protected]; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014, or by email at [email protected]; Guggenheim Securities, LLC Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017 or by telephone at (212) 518-9544, or by email at [email protected]; or Cantor Fitzgerald & Co. by mail at Attention: Capital Markets, 110 East 59th Street, New York 10022 or by email at [email protected].

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Bio-Techne and USP Announce Collaboration to Accelerate Monoclonal Antibody and Gene Therapy Product Development

On June 24, 2025 Bio-Techne Corporation (NASDAQ: TECH) reported a distribution agreement with the U.S. Pharmacopeia (USP) that enables the Company to sell USP monoclonal antibody (mAb) and recombinant adeno-associated virus (AAV) reference standards with its analytical solutions, including the Maurice system, to support monoclonal antibody and gene therapy development around the world (Press release, Bio-Techne, JUN 24, 2025, View Source [SID1234654083]).

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More than 160 antibody therapies against nearly 100 targets and range of diseases have been approved worldwide. Maintaining consistent mAb quality is vital for their efficacy. The need for consistency is becoming increasingly more important as mAb patent protections expire, and biosimilar versions of these therapies become available. This leads to a greater need for manufacturers to rigorously test critical quality attributes throughout mAb development and manufacturing processes to demonstrate product safety and effectiveness.

Separately, gene therapy, which relies on recombinant AAV to deliver gene edits into cells, is one of the fastest-growing sectors in the biopharmaceutical industry. The exceptional growth of these groundbreaking treatments offers cures to previously incurable genetic diseases; however, challenges persist in the development and commercialization processes, including low yields, scalability hurdles, high costs, and analytical complexities. USP reference standards help solve these challenges by providing well-characterized benchmarks for analytical testing, ensuring accuracy, reliability, and regulatory compliance in product development and quality control.

Importantly, both USP mAbs and AAV reference standards provide stringent materials that can be used with Bio-Techne’s leading analytical instruments, such as the MauriceFlex system. By combining these standards with the Company’s rapid, easy-to-use, and multi-functional analytics, therapy manufacturers can achieve reliable, efficient, and integrated characterization for purity, charge, size, and identity applications for complex biologics, from development through product release.

"We are excited about our work with USP. This marks a significant milestone in advancing our commitment to providing cutting-edge tools and solutions to the scientific community," said Will Geist, President of Bio-Techne’s Protein Sciences Segment. "This relationship underscores our dedication to supporting advancements in biotherapeutic development and ensuring the highest standards of quality and safety for patient care."

"We are thrilled to engage Bio-Techne as an authorized distributor, which enables USP to expand access of our solutions within the scientific community and beyond, ensuring that safe and quality therapeutic products reach the market for the benefit of patients worldwide," said Fouad Atouf, Ph.D., Senior Vice President, Global Biologics for USP. "Through working with Bio-Techne, USP is reinforcing its commitment to addressing the most prevalent quality issues with innovative solutions, leveraging our robust framework of science-based quality standards for pharmaceutical manufacturers."

Addressing quality challenges is essential to ensure the safety and quality of biotherapeutics. Both USP and Bio-Techne have a long history of developing solutions to support mAbs and are applying their know-how to solving analytical challenges in AAV-based gene therapies. The ability to purchase USP reference standards from Bio-Techne further simplifies the method development process, enabling customers to assess system suitability and other critical criteria for charge and size based analytical assays on the Maurice system.

Galapagos Appoints Aaron Cox as Chief Financial Officer

On June 23, 2025 Galapagos NV (Euronext & NASDAQ: GLPG) reported the appointment of Mr. Aaron Cox as Chief Financial Officer, effective July 7, 2025 (Press release, Galapagos, JUN 23, 2025, View Source [SID1234654108]). Mr. Cox succeeds Mr. Thad Huston, who will remain with the company through July 31, 2025, to ensure a smooth transition of responsibilities.

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Aaron brings more than two decades of leadership experience across biotechnology, capital markets, and M&A/corporate development. Most recently, he served as Executive Vice President and Chief Financial Officer at Horizon Therapeutics plc, where he played a pivotal role in the company’s $28 billion acquisition by Amgen. Prior to that, Aaron served as Horizon’s Head of Corporate Development and Chief of Staff to the CEO, supporting capital markets strategy, M&A execution, and the company’s transformation into a fully integrated biotech. His earlier career spans senior roles in investment banking.

"We are delighted to welcome Aaron to Galapagos," said Henry Gosebruch, CEO of Galapagos. "Aaron will be a key partner in accelerating pipeline growth through business development and focusing our resources through disciplined financial management. His dealmaking background and experience managing a global financial organization will be invaluable as we continue transforming Galapagos with the goal of making a meaningful impact on the lives of patients worldwide."

Aaron will lead the Finance, Accounting, Tax, Procurement, Communications and Investor Relations functions and will join the Executive Committee of Galapagos. As CFO, he will also work closely with leadership and the Board of Directors to execute transactions to build a new pipeline of innovative medicines and find a value-maximizing alternative for the cell therapy business.

"I am excited to join Galapagos at this pivotal moment," said Aaron Cox, incoming CFO of Galapagos. "I look forward to working with Henry and the talented team to help shape the company’s next chapter, create value for our shareholders, and advance meaningful innovations for patients."

Aaron holds a Bachelor’s degree in Finance from the University of Notre Dame and earned his MBA from the University of Chicago Booth School of Business.

In connection with this appointment, the Company will issue new restricted stock units (RSUs) and subscription rights.

TriSalus Life Sciences Announces Commencement of Exchange Offer and Consent Solicitation Relating to Series A Convertible Preferred Stock to Streamline Capital Structure

On June 23, 2025 TriSalus Life Sciences Inc. (Nasdaq: TLSI), a company working to improve outcomes for patients with solid tumors by combining innovative drug delivery, current on-market therapeutics and immunotherapy ("TriSalus" or the "Company"), reported that it has commenced an exchange offer and consent solicitation involving its Series A Convertible Preferred Stock (the "Preferred Stock") identified in the Prospectus/Offer to Exchange (as defined below) (Press release, TriSalus Life Sciences, JUN 23, 2025, View Source [SID1234654077]).

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TriSalus is committed to simplifying its capital structure and reducing the potential impact of dilution from its Preferred Stock. By exchanging outstanding shares of Preferred Stock for common stock, the Company eliminates complex capital layers and potential preferential claims, providing investors with a clearer view of the Company’s equity value and improving transparency around ownership.

What’s Being Offered

TriSalus is offering all holders of outstanding shares of Preferred Stock the chance to exchange their shares for common stock. Each share of Preferred Stock can be exchanged for common stock based on the total value it would accrue (including dividends through August 10, 2027), divided by $4.00 per share.

In total, TriSalus is offering up to 11,860,206 shares of common stock to complete the exchange.

Consent Solicitation: Proposed Change to Preferred Stock Terms

Along with the exchange offer, TriSalus is asking preferred shareholders to approve an amendment to the Certificate of Designations of the Preferred Stock. If approved, this amendment would allow the Company to automatically convert all remaining Preferred Stock into common stock after the offer closes, based on a slightly lower exchange ratio (11.3% less than the current offer).

Investors holding approximately 55% of the outstanding Preferred Stock have previously agreed to exchange their shares and approve the proposed changes pursuant to tender and support agreements. If the remaining conditions outlined in the Company’s Prospectus/Offer to Exchange are met, these changes will go into effect.

Key Dates and Information

Deadline to Participate: The offer expires at 12:01 a.m. Eastern Time on July 23, 2025, unless extended.
Preferred Stock holders can withdraw their tendered shares any time before the deadline.
Offer Details

The offer is described in full in the Prospectus/Offer to Exchange and Schedule TO, both filed with the U.S. Securities and Exchange Commission (SEC) on June 23, 2025.

Common Stock Symbol: TLSI (traded on the Nasdaq Global Market);
Preferred Stock: Not publicly traded; 3,594,002 shares outstanding as of June 13, 2025;
Morrow Sodali LLC has been appointed as the Information Agent for the Offer and Consent Solicitation, and Continental Stock Transfer & Trust Company has been appointed as the Exchange Agent. Requests for documents should be directed to Morrow Sodali LLC at (800) 662-5200 (for individuals) or (203) 658-9400 (for banks and brokers) or via the following email address: [email protected].

OS Therapies Announces Warrant Exercise Inducement & Exchange Offer

On June 23, 2025 OS Therapies Inc. (NYSE-A: OSTX) ("OS Therapies" or "the Company"), a clinical-stage immunotherapy and Antibody Drug Conjugate (ADC) biopharmaceutical company, reported a warrant exercise inducement and exchange offer to holders of its five-year warrants with a current exercise price of $1.12 per share that were issued in connection with a PIPE financing transaction that had an initial closing date of December 31, 2024 (the "Old Warrants") (Press release, OS Therapies, JUN 23, 2025, View Source [SID1234654076]). The Company is offering holders of Old Warrants the opportunity to exercise the Old Warrants now in consideration of the receipt of new five-year warrants to purchase a number of shares of common stock equal to the number of Old Warrants exercised with an exercise price of $3.00 per share, on substantially the same terms as the Old Warrants with the exception of exercise price (the "New Warrants"). The exercise of all Old Warrants would provide approximately $8 million in gross cash proceeds to the Company before offering related expenses. $1.76 million in Old Warrants exercise proceeds has already been received by the Company, extending its cash runway into the second half of 2026.

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The New Warrants also have an added forced exercise provision that allows the Company to require the holder to exercise the New Warrants in the event the closing price of the Company’s common stock equals or exceeds $9.00 (300% of the exercise price) for 20 consecutive days.

OS Therapies intends to use net proceeds from the offering to support US and International regulatory and pre-commercialization efforts aimed at securing marketing authorization for OST-HER2 in the prevention or delay of recurrent, fully resected, lung metastatic osteosarcoma, and for general corporate purposes.

The warrant exercise inducement and exchange offer is being made to the holders of Old Warrants during the period beginning on June 20, 2025 and ending at 5:00pm EDT on July 10, 2025 – subject to extension, termination or suspension by the Company in its sole discretion. The offering may be concluded in one or more closings with respect to exercises of the Old Warrants.

The Company reiterates that it will release additional data related to its Phase 2b clinical trial of OST-HER2 in the prevention or delay of recurrent, fully resected, lung metastatic osteosarcoma at the MIB Factor meeting in Salt Lake City on June 28, 2025. The Company also reiterates its intention to submit a Biologics Licensing Application (BLA) for OST-HER2 osteosarcoma to the FDA in the third quarter of 2025.

OST-HER2 has received Rare Pediatric Disease Designation (RPDD) for osteosarcoma from the US FDA, and if it receives a conditional BLA via Accelerated Review prior to September 30, 2026, it will be eligible to receive a Priority Review Voucher (PRV) that it intends to sell. The most recent PRV sale occurred in June 2025, valued at $160 million.

The New Warrants to be issued in the private placement, as well as the common stock issuable upon exercise of the New Warrants, have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws and may not be offered or sold in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act. The Company has agreed to file a registration statement with the Securities and Exchange Commission (the "SEC") registering the resale of the shares of common stock underlying the New Warrants issued in this private placement (the "Resale Shares").

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Any offering of the Resale Shares under the resale registration statement will only be made by means of a prospectus.