Craig-Hallum Capital Group LLC served as the sole managing underwriter in life sciences company Celcuity's upsized initial public offering of 2,760,000 shares of common stock at $9.50 per share. The shares began trading on the Nasdaq Capital Market on September 20, 2017, under the symbol "CELC." Faegre Baker Daniels advised Craig-Hallum on the transaction - the firm's fourth IPO since August 2016.
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 directly measure the effectiveness of the matching targeted therapy in a patient’s living tumor cells. The company is headquartered in Minneapolis, Minnesota.