Shares of Jump Therapeutics (LPTX) climbed 25% after the microcap cancer drug developer presented a $58.9 million interior most investment led by Winklevoss Capital to kickstart a crypto treasury contrivance.
The investment, structured as a non-public placement, comprises general shares and warrants priced at $0.61439 per unit. Winklevoss Capital, based by Cameron and Tyler Winklevoss, will moreover score two board seats at Jump.
Exactly which cryptos may well well be bought became once not disclosed.
Jump, known for its immuno-oncology therapies, talked about this would possibly well use a a part of the capital to internet cryptocurrency as fragment of an extended-term conception to care for crypto on its balance sheet. The rest will enhance scientific pattern of its drug candidates.
The deal areas Jump amongst a rising checklist of public companies using crypto as a treasury reserve. Jump talked about more important aspects on its digital asset contrivance shall be presented in the near future and didn’t detail which sources it plans on procuring.
Shares were elevated by 25% in Monday morning commerce.
