BCTX - BriaCell says insiders to purchase up to 10% of its common stock

BriaCell Therapeutics (NASDAQ:BCTX) is trading ~12.9% higher in the pre-market after announcing that certain members of its board of directors and management team have informed their plans to purchase nearly 10% of the company’s common stock. The insiders intend to use their personal funds to acquire approximately ~1.6M common shares and/or publicly listed common share purchase warrants at the open market. That will represent nearly 10% of basic common shares outstanding within six months starting Jan. 31, 2022. Updating on the company’s recently announced buyback program, BriaCell (BCTX) said it has repurchased ~501.7K common shares in total and ~143.2K publicly-traded BCTXW warrants. In addition, since Nov. 01, investors have exercised ~833.1K common share purchase warrants at an average weighted exercise price of $6.16 per common share. That has generated ~$5.1M in proceeds for the company, BriaCell (BCTX) noted, adding that it has recorded $55.5M of cash balance as of Oct. 31

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BriaCell says insiders to purchase up to 10% of its common stock