Today, we want to share our analysis of Bellicum Pharmaceuticals (OTCPK:BLCM) with you. Over the last year, its stock largely fluctuated, falling from ~ $7 in September 2018 to $0.78 in August 2019. Recently, the company’s stock price grew by more than 20% after Baker Bros. disclosed its stake in the company. In this article, we intend to review recent developments and pipeline updates and discuss what shareholders can expect going forward.
Company description
Bellicum Pharmaceuticals is a clinical-stage biotechnology company that concentrates on developing novel therapeutics for the treatment of hematological cancers, solid tumors, and blood diseases. The company, based in Houston, Texas, was founded in 2004 and went public in December 2014, selling 7.35M shares at $19.00 per share. Bellicum is led by Rick Fair who joined the company in 2017 from Roche’s subsidiary, Genentech. Currently, the company has a market cap of ~ $55M and trades around $1.2 per share.
Recent Developments and Pipeline Update
On August 21, Bellicum announced a public offering of Series 1 preferred stock and warrants priced at $1.00 per share, which helped the company receive around $57.5M (before underwriting fees) to fund its ongoing trials. Investment banks involved in the stock offering included Jefferies Group LLC, Wells Fargo Securities LLC, and Ladenburg Thalmann Financial Services Inc. Moreover, the company had entered into an agreement with certain institutional investors to sell Series 2 and Series 3 preferred stocks and warrants to receive up to $70M.
On July 8, the company announced positive results from the European registration trial of Rivo-cel (rivogenlecleucel) in pediatric patients with malignant (acute lymphocytic leukemia (NYSE:ALL), acute myeloid leukemia (AML), and others) or non-malignant disorders (primary immune deficiencies, beta thalassemia, and other erythroid disorders). Rivo-cel is an allogeneic polyclonal T-cell designed to address shortcomings of stem cell transplants to treat hematologic malignancies
