Crescent Biopharma $125M public offering
Analysis based on 10 articles · First reported Jul 14, 2026 · Last updated Jul 15, 2026
The offering provides GT Biopharma with approximately $125 million in gross proceeds to fund its clinical-stage pipeline, including a PD-1 x VEGF bispecific antibody and ADCs. The capital raise may dilute existing shareholders but strengthens the company's balance sheet for ongoing research and development.
GT Biopharma, a clinical-stage biotechnology company, announced the pricing of its underwritten public offering of 8,094,793 ordinary shares and pre-funded warrants to purchase up to 525,897 ordinary shares at $14.50 per share and $14.499 per warrant, respectively. The gross proceeds are expected to be approximately $125.0 million. The offering is expected to close on July 16, 2026. Jefferies, Toronto-Dominion Bank — TD Cowen, Guggenheim Securities, and Cantor are acting as joint book-running managers, with LifeSci Capital as passive book-running manager. The securities are offered under a shelf registration statement declared effective on July 10, 2026.
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