Plymouth-based cancer research company Celcuity Inc. (NASDAQ: CELC) has raised $50 million in private investments, according to a securities filing
Celcuity recently announced that the $50 million came from private investors, who agreed to purchase shares of Celcuity's common stock at a price of $8.699 per share. The company's stock closed at $10.24 on Monday, and is slightly up Tuesday.
Celcuity last year raised $100 million in private funds to advance its Phase 3 clinical trial of getatolisib, Celcuity’s leading drug candidate to extend the lives of cancer patients.
In 2017, the company raised $23 million through an IPO. It used proceeds from that deal to triple the size of its office and lab, which remains its headquarters in Plymouth.
Celcuity is led by Brian Sullivan, who previously helmed medical-device reprocessor SterilMed. That company was sold in 2011 for $330 million.
Celcuity couldn't be reached for comment in time of publication.
