Faegre Baker Daniels represented the underwriters in Celcuity’s initial public offering of 2.7 million shares of common stock. The shares began trading on the NASDAQ Capital Market on Sept. 20, 2017 under the symbol “CELC.”
Celcuity is a cellular analysis company that is discovering new cancer sub-types and commercializing diagnostic tests designed to significantly improve the clinical outcomes of cancer patients treated with targeted therapies. Its proprietary CELx diagnostic platform is the only commercially ready technology it is aware of that uses a patient’s living tumor cells to identify the specific abnormal cellular activity driving their cancer and the targeted therapy that can best treat it. This enables Celcuity to develop tests that diagnose new cancer sub-types that molecular diagnostics cannot detect and measure directly the effectiveness of the matching targeted therapy in a patient’s living tumor cells. The company is headquartered in Minneapolis, MN.
Jon Zimmerman, head of FaegreBD’s capital markets practice, and Ben Stacke, led the team along with Morgan Burns, Ryan Woessner and Jonny Nemani. The team represented Craig-Hallum Capital Group LLC, who acted as sole managing underwriter for the offering. This is FaegreBD’s fourth IPO in the past 12 months.
Please see Celcuity’s press release for additional information on the offering.