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Listing date | 18 January 2021 # |
Contact details | https://www.chimerictherapeutics.com/ Ph: +61 3 9824 5254 |
Principal Activities | Chimeric is a biotechnology company developing a cancer cell therapy drug |
GICS industry group | TBA |
Issue Price | $0.20 |
Issue Type | Ordinary Fully Paid Shares |
Security code | CHM |
Capital to be Raised | $35,000,000 |
Expected offer close date | 14 December 2020 |
Underwriter | Not underwritten. Bell Potter Securities Limited and Baker Young Limited (Joint Lead Managers) |
CAR T cell treatment company Chimeric Therapeutics (ASX:CHM) is understood to have easily achieved its IPO fundraising target of $35m ahead of its ASX listing timed for Monday. Institutional investors have expressed strong interest in the IPO priced at 20c per share, along with sophisticated investors, leading to the offer being heavily oversubscribed. “The capital raising for $35 million is all done and came in early,” said a source close to the IPO that closed to investors in mid-December. Chimeric Therapeutics initially intended to raise only $25m in its IPO, but according to the source, this target was raised by another $10m such was the interest from long-term institutional investors.
The company wishes to move on to a patient study involving 50 to 75 people following the completion of its phase one clinical trial later this year.The company has developed a therapy treatment for solid tumours based on research at the City of Hope Cancer Centre in Los Angeles. Known as CLTX-CAR T the therapy uses chlorotoxin, a peptide discovered in scorpion venom, to reprogram a patient’s T cells to target cancer cells. The therapy is currently undergoing phase one clinical trials at the City of Hope Cancer Centre in treating glioblastoma, an aggressive form of brain cancer. A type of immunotherapy, CAR T cell treatment is short for Chimeric Antigen Receptor T-cell therapy. It involves taking some of a patient’s white blood cells, re-engineers these in a laboratory to more effectively target cancer cells, and re-injects them into the patient.
CHM is really going well considering the price changed since January posting and market price noted on Dona's post.listed today , @ 20c a share
Pretty standard price and volume action. Intraday, 3 minute chart:
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@finicky - I liked the word 'auspicious' - hope you are not going to call a clairvoyantSome very auspicious looking personnel appointments lately. The new director announced today was with Celgene from start-up days and Celgene was bought out by Bristol-Myer Squibb for US $74B in 2019. Same field of endeavour. There was also a prior appointment of a seniour technician who spent 15 years with Cellgene.
Not Held
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Good announcement today regardless the market reaction - technical merit is here@finicky - I liked the word 'auspicious' - hope you are not going to call a clairvoyant.
On a serious note, the cross functional interests between CHM and IMU are immense.
This is one of my bad investments. The company showed the wrong finger to existing shareholders as wellThe market's immediate response to a strongly dilutive entitlement offer - roughly adding a third onto the quoted shares and double that if the attached options are ever exercised. Offer @ 0.17, closed @ 0.16
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