Celularity Closes SPAC Merger With GX Acquisition, Trading Starts Monday

Celularity Inc has closed the merger with GX Acquisition Corp GXGX, giving Celularity $138 million to push the NK cell and T cell therapies into early-stage trials.
The combined company will operate under the name Celularity Inc CELU, and its common stock will commence trading on the NASDAQ from Monday (19 July) under the ticker symbol CELU.
The company expanded its ongoing Phase 1 trial of CYNK-001 in patients with acute myeloid leukemia (AML)to include patients with relapsed/refractory AML (r/r AML) in addition to its ongoing trial in measurable residual disease (MRD).
To date, no dose-limiting toxicity was observed with outpatient administration of three doses.
The FDA granted Orphan Drug Designation to CYNK-001 for the treatment of patients with malignant gliomas.
CYNK-001 is currently in a Phase 1 trial for glioblastoma multiforme.
For Phase 1/2 COVID-19 trial assessing CYNK-001, no evidence of dose-limiting toxicities or evidence of no worsening inflammatory biomarkers was observed, and enrollment is ongoing.
Price Action: GXGX shares are up 32.20% at $10.60 during the market session on the last check Friday.