- BriaCell (BCT) brings insiders’ intention to purchase up to 10 per cent of the company’s public market securities
- The group of insiders intend to purchase up to approximately 1.59 million shares
- The corporate buyback program will continue; 501,703 shares and 143,236 warrants have been repurchased since the program launched
- $5.1 million proceeds received via warrant exercises since November 1, 2021
- BriaCell is an immuno-oncology focused biotechnology company developing targeted and effective approaches for the management of cancer
- BriaCell Therapeutics Corp. (BCT) is up 1-point-5-1-percent, trading at $10.75 at 10:35 am EST
A group of BriaCell Therapeutics (BCT) insiders intend to purchase up to 10 per cent of the company’s public market securities.
The management insiders may purchase approximately 1.59 million common shares and/or publicly-listed common share purchase warrants, representing approximately 10 per cent of the company’s outstanding common shares within a six-month period beginning January 31, 2022.
Any insider purchase will be conducted in compliance with its insider trading policy and insiders will meet the SEC and TSX Venture reporting obligations.
Insiders’ proposed purchases may be conducted through open-market transactions at prevailing market prices and/or through other legally permissible means, subject to the market conditions and in compliance with applicable securities laws, rules and regulations.
The timing and dollar amount of the purchases may vary. BriaCell’s Board of Directors will be reviewing the program periodically and may suspend or discontinue the program.
BriaCell’s cash balance as of October 31, 2021, was $55.5 million with no debt outstanding. The Buyback program is expected to not interfere with BriaCell’s ambitious growth plans to expand into previously-announced areas of cancer immunotherapy and/or advance its current breast cancer clinical trials.
BriaCell believes the optimal use of its excess capital remains to repurchase its own securities to further enhance value for shareholders.
Separately, since November 1, 2021, BriaCell has received approximately $5.1 million in proceeds from investors via the exercise of 833,065 common share purchase warrants at an average weighted exercise price of $6.16 per common share.
BriaCell is an immuno-oncology focused biotechnology company developing targeted and effective approaches for the management of cancer.
BriaCell Therapeutics Corp. (BCT) is up 1-point-5-1-percent, trading at $10.75 at 10:35 am EST.
