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Product / Company Performance

Vericel Prices $65MM Public Offering of Stock -

Vericel (VCEL), developer of MACI autologous cultured chondrocyte product for cartilage repair, priced its underwritten public offering of 5MM shares of common stock at $13/share. The offering is slated to close by June 5. Gross proceeds are expected to be $65MM before deducting expenses. Proceeds will support general corporate purposes and potential expansion by in-licensing or acquiring complementary product candidates, technologies, etc., though the company has no current commitments or obligations to do so. (Vericel Corporation, 5/31/18)