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General Cannabis Corp Strengthens Balance Sheet by Raising New Capital, Retiring Existing Debt and Extinguishing Put Obligation
General Cannabis Corp Strengthens Balance Sheet by Raising New Capital, Retiring Existing Debt and Extinguishing Put Obligation
DENVER, Jan. 04, 2021 General Cannabis Corp (OTCQB: CANN) today announced that it has raised over $2.9 million of senior convertible promissory notes (“Notes”) and extinguished an existing put obligation. Collectively, these actions restructure the Company’s debt, reduce its interest expense, increase its operating cash and provide additional financial flexibility.
In conjunction with this capital raise, the Company has now rolled or extinguished over $2 million of its outstanding short-term debt, which carried a 15% annual interest rate and was to come due in the first quarter of 2021, and replaced it with Notes that have a 10% annual coupon and mature in December 2023.�
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DRESDEN, Germany, Jan. 7, 2021 /PRNewswire/
GEMoaB, a biopharmaceutical company focused on the development of next-generation immunotherapies for hard-to- treat cancers, today announced the acceptance of two presentations on clinical data from the ongoing Phase I study of their lead asset UniCAR-T-CD123 in relapsed/refractory acute myeloid leukemia (rrAML) at the 2021 EHA-EBMT 3rd European CAR T-Cell Meeting, being held from February 4-6.
So far, CAR-T cell therapy in AML has been impacted by the lack of antigens differentially expressed on malignant blasts. Targeting CD123, which is also expressed on hematopoietic progenitor cells, with conventional CAR-T products has led to promising response rates but also to long-lasting aplasias, with the frequent need for subsequent allogeneic hematopoietic cell transplantation.
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