24/7 Market News Snapshot 03 January, 2025 – Cyclacel Pharmaceuticals, Inc (NASDAQ:CYCC)

January 3, 2025

DENVER, Colo., 03 January, 2025 (247marketnews.com) – (NASDAQ:CYCC) are discussed in this article.
Cyclacel Pharmaceuticals, Inc. (CYCC) is witnessing remarkable momentum in the stock market, experiencing a substantial 101.4% increase in pre-market trading, reaching an impressive $0.747 compared to the prior close of $0.371. With a notable trading volume of 19.46 million shares, there is a palpable surge in investor interest, reflecting strong bullish sentiment. Market analysts are keeping a close watch on Cyclacel, recognizing potential investment opportunities stemming from the company’s promising developments.

In a significant strategic move, Cyclacel has entered into a financing partnership with prominent investor David Lazar. As part of this agreement, Lazar will purchase 1,000,000 shares of Series C Convertible Preferred Stock and 2,100,000 shares of Series D Convertible Preferred Stock, generating gross proceeds of $3.1 million. This influx of capital is expected to strengthen Cyclacel’s financial position, enabling the company to settle outstanding liabilities while supporting essential operational needs. The initial closing of this transaction is projected around January 3, 2025, underscoring the company’s commitment to enhancing its balance sheet.

The Series C Preferred Stock can be converted into 2.65 shares of common stock, while the Series D Preferred Stock can convert into 110 shares, contingent upon stockholder approval.

To further bolster governance, Cyclacel’s Board of Directors is undergoing reorganization, with Dr. Samuel Barker continuing as Chairman. Paul McBarron, Spiro Rombotis, and financial executive David Natan are also joining the board, enhancing oversight capabilities.

Additionally, Cyclacel is implementing a Warrant Exchange Agreement as part of its wider financial restructuring strategy. As the company advances its mission to develop innovative cancer therapies, stakeholders can anticipate ongoing updates about these transformative initiatives and their impact on shareholder value.

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