Gritstone bio-Inc. (GRTS) shares declined 3.69% in after-hours on Thursday, September 16, 2021, and closed the daily trading at $13.04. However, in the regular trading session of Thursday, GRTS’s stock gained 5.86%. GRTS shares have risen 313.44% over the last 12 months, and they have moved up by 15.63% in the past week. Over the past three months, the stock has gained 36.77%, while over the past six months, it has soared 1.27%.
Let’s have a brief discussion about its recent news and developments.
GRTS private financing
On September 16, 2021. Gritstone bio, Inc. (GRTS) announced a $55.0 million private investment in public equity (PIPE) financing from the sale of 5,000,000 shares of its common stock at a price per share of $11.00. The company will get gross proceeds of a total of $55.0 million.
Data presentation at ESMO
On September 09, 2021, Gritstone bio, Inc. (GRTS) hosted a data update webcast for investors and analysts during the European Society of Medical Oncology (ESMO) Annual Meeting 2021, September 17, 2021, at 1:30 p.m. ET.
This event highlighted the GRANITE Phase 1/2 data in advanced solid tumours which were presented during the meeting.
GRTS participation in recent & upcoming investor conferences
Gritstone bio, Inc. (GRTS) will participate at Cantor Virtual Global Healthcare Conference, which is scheduled for Wednesday, September 29, 2021, at 2:40 p.m. ET. The executive vice president and chief financial officer, Celia Economides will present the company.
The company recently participated at H.C. Wainwright 23rd Annual Global Investment Conference, which was held on
Monday, September 13, 2021. The company was presented by the co-founder, president and chief executive officer, Andrew Allen, M.D., PhD.
Gritstone agreement with CEPI
On August 17, 2021, Gritstone bio, Inc. (GRTS) entered into a funding agreement of up to $20.6 million with the Coalition for Epidemic Preparedness Innovations (CEPI) to advance the development of Gritstone’s CORAL COVID-19 vaccine program with an initial focus in South Africa.
The funding will support a multi-arm Phase 1 study evaluating the CORAL program’s SAM vaccine in naïve, convalescent, and HIV+ patients and it will also provide finance for pre-clinical studies, scale-up and formulation development to enable more stable drug products.
GRTS Inducement grants
On August 16, 2021, the Board of Directors of Gritstone bio, Inc. (GRTS) granted eight employees nonqualified stock options to purchase an aggregate of 240,250 shares of its common stock with an exercise price of $7.29. these awards are according to the Nasdaq Listing Rule 5635(c)(4).
Conclusion
The recent private funding could be the reason either for its gains or loss on Thursday. We have to wait and see how it performs on the last trading day of the week.
