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    CYAD   BE0974260896

CELYAD ONCOLOGY SA

(CYAD)
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Celyad Oncology Shares Surge on $32.5 Million Placement

12/03/2021 | 05:08am EST

By Mauro Orru

Shares in Celyad Oncology SA jumped Friday after the Belgian biotechnology company struck an agreement with an affiliate of investment manager Fortress Investment Group LLC for a private placement targeting gross proceeds of $32.5 million.

At 0940 GMT, Celyad shares traded 20% higher at EUR3.83.

Celyad said it would issue 6.5 million ordinary shares at $5 each and use the proceeds to fund research and development expenses. The subscription should close on or around Dec. 8.

Fortress, backed by Japanese technology and investment conglomerate SoftBank Group Corp., will hold a 28.8% stake in Celyad as a result of the transaction.

Celyad said that it should have enough funding to meet its operating expenses and capital expenditure requirements into the first half of 2023, following close of the private placement.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

12-03-21 0508ET

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Analyst Recommendations on CELYAD ONCOLOGY SA
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Financials
Sales 2021 5,40 M 6,16 M 6,16 M
Net income 2021 -28,4 M -32,4 M -32,4 M
Net cash 2021 25,7 M 29,3 M 29,3 M
P/E ratio 2021 -2,78x
Yield 2021 -
Capitalization 80,4 M 91,8 M 91,7 M
EV / Sales 2021 10,1x
EV / Sales 2022 9,73x
Nbr of Employees 89
Free-Float 75,5%
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Mean consensus OUTPERFORM
Number of Analysts 1
Last Close Price 3,56 €
Average target price 11,00 €
Spread / Average Target 209%
EPS Revisions
Managers and Directors
Filippo Joseph Petti Director, Chief Executive & Financial Officer
Michel E. Lussier Chairman
Frederic Lehmann VP-Clinical Development & Medical Affairs
David Gilham Chief Scientific Officer
Peggy Sotiropoulou Head-Research & Development
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