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Alaunos Therapeutics proposes stock offering to fund research pipeline

  • Alaunos Therapeutics (NASDAQ:TCRT) has started off underwritten stock offering, the clinical-stage oncology company told in after-hours on Monday.
  • Price, size and other terms not yet determined.
  • Underwrites will be granted an overallotment to purchase up to an additional 15% of shares being offered.
  • The company said it intends to use the net proceeds to fund the continued development of the product candidates in its pipeline, and for working capital, capital expenditures and general corporate purposes.
  • TCRT shares are down 20% in post-market trading.