Anchiano Therapeutics extends Nasdaq offering

Frank Haluska  photo: PR

The offering was scheduled to end yesterday, but the company is continuing it for another day.

Drug company Anchiano Therapeutics Ltd. (TASE: ANCN) (formerly BioCanCell) has announced an extension of its $35 million offering on Nasdaq. The offering was scheduled to take place yesterday, but the company decided to continue it for another day.

Major shareholders in Anchiano include Clal Biotechnology Industries Ltd. (TASE: CBI) (30%); Shavit Capital, which invests in companies before they make public offerings (13.3%); Edgewater Partner Holdings (12.3%); Palisade Capital Management (11.8%); and Meitav DS Investment House Ltd. (5%). As of the end of the third quarter of 2018, the company had $11 million in cash.

The company's leading product, which is designed to treat bladder cancer, is about to enter a second Phase III clinical trial designed to obtain approval for the drug. The company also recently started a multi-center Phase II trial of a drug for treatment of cancer of the bladder membrane. Interim results from this trial will be published in mid-2019. Anchiano's CEO is Frank Haluska.

If the offering is successful, the company will be delisted from trading on the Tel Aviv Stock Exchange (TASE).

Published by Globes, Israel business news - en.globes.co.il - on February 12, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Frank Haluska  photo: PR
Frank Haluska photo: PR
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