GMDA - Why Gamida Cell Shares Are Falling Today | Benzinga
Gamida Cell Ltd. (NASDAQ:GMDA) shares are plunging in the morning session on Wednesday.
The company said it entered into a restructuring support agreement with certain funds managed by Highbridge Capital Management.
The transaction aims to offer Gamida Cell a long-term financial runway, aiding Omisirge (omidubicel-onlv) commercialization, via a voluntary Israeli restructuring proceeding.
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Highbridge will convert $75 million of its existing unsecured convertible senior note into equity in the company.
“Our search for strategic alternatives did not yield an actionable proposal from a partner who could address our financial challenges and support the ongoing commercialization of Omisirge,” said ...