- Alongside a Q4 earnings beat, the company last night announced the sale of its remaining 80.1% stake in its PCT subsidiary to Hitachi Chemical (which owns the other 19.9%) for $75M in cash. A revenue milestone could allow for another $5M payment.
- Closing is expected in May.
- Proceeds will be used to fund the Phase 2 trial for CLBS03, and the pay off the company's remaining $5.5M in outstanding debt.
- A conference call is set for 8:30 ET.
- CLBS +46% premarket
Caladrius Biosciences up nearly 50% after asset sale
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