On March 18, 2024 TC BioPharm (Holdings) PLC ("TC BioPharm" or the "Company") (NASDAQ: TCBP) a clinical stage biotechnology company developing platform allogeneic gamma-delta T cell therapies for cancer and other indications, reported that an institutional investor has exercised cash only warrants represented 623,750 American Depository Shares (ADS) at an exercise price of $2.02 (Press release, TC Biopharm, MAR 18, 2024, View Source [SID1234641238]).

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The gross proceeds of the warrant exercise was $1,263,000 with a net cash infusion of $1,168,275 to the Company post fees associated with the exercise to HC Wainwright & Co. There was no additional consideration or inducement paid for the exercise of the Series D warrants in this transaction. The Company intends to use the cash for additional working capital.

"This transaction is further reflective of the promise of TCB-008 and The Company as whole," stated CEO Bryan Kobel. "We will continue to execute on our 2024 plan, driving to human data in AML as well as expanding our platform. This cash infusion further strengthens our balance sheet and is an example of the institutional investor interest the Company is garnering around it’s clinical programs and the therapeutic applications for TCB-008."