GRTS - Gritstone Oncology to raise $110M in equity

Gritstone Oncology (GRTS) has executed a securities purchase agreement to raise $110M in gross proceeds via sale of common stock and/or pre-funded warrants through a private investment in public equity financing at $3.34/share.Net proceeds will be used to fund research and development expenses, including the clinical development of its lead cancer immunotherapies, and advancement of opportunities from its core technologies including Gritstone EDGE and vaccine platforms, as well as for working capital and other general corporate purposes.The financing was led by certain existing and new investors, Redmile Group, Avidity Partners and EcoR1 Capital, and is expected to close on December 28.

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Gritstone Oncology to raise $110M in equity