TapImmune Inc. stock has blossomed in the month since it announced it will merge with a company producing similar cancer-fighting treatments, begin a strategic alliance with Baylor College of Medicine and move to Houston. The stock has more than tripled since the announcement and rose more than 18 percent Friday.
TapImmune today announced that it has entered into security purchase agreements with certain institutional and accredited investors in connection with a private placement of its equity securities. The private placement will be led by New Enterprise Associates (NEA) with participation from Aisling Capital and Perceptive Advisors, among other new and existing investors.
TapImmune will pursue a new approach to treating cancer through a proposed merger with privately held Marker Therapeutics, a WBB Securities analyst said in an upgrade note.