Alaunos Therapeutics, Inc. (TCRT) stock is surging on Tuesday with a massive session volume of 191.48 million compared to the average volume of 826.167 thousand, according to market data.
The company acquired Velaris Therapeutics, Inc., a private biotechnology enterprise focused on developing innovative therapies for pulmonary arterial hypertension and related cardiopulmonary conditions.
This transaction provides the buyer with a robust portfolio of ActRII-Fc ligand traps and complementary biologics.
These therapies aim to correct the underlying signaling imbalances responsible for remodeling the pulmonary vasculature.
Securing Substantial Capital
Alongside the acquisition, the company executed a concurrent Series C non-voting convertible preferred stock private placement that generated roughly $350 million in gross proceeds.
Management expects this substantial financial runway to support operations through 2029. The capital will facilitate the generation of critical proof-of-concept data sets for candidates VLR199 and VLR360, while backing early regulatory submissions for VLR247 and VLR258.
Advancing Treatment Pipeline
Velaris marks the ninth enterprise originating from assets discovered by Paragon Labs.
Its premier program, VLR199, operates as an ActRIIA-Fc ligand trap. This candidate seeks to replicate the proven pharmacology of the market's only approved activin-signaling inhibitor while optimizing its therapeutic profile.
The pipeline further features VLR247 and VLR258. Engineers developed these specific ActRII-Fc ligand traps to spare the BMP-9 and BMP-10 ligands, which researchers have previously linked to adverse hematologic events.
Additionally, the portfolio incorporates VLR360, an anti-PDGF-B monoclonal antibody addressing an alternative pathway involved in pulmonary arterial hypertension. Developers constructed VLR360 and the ActRII-Fcs for use as monotherapies or in combination.
Strengthening Executive Leadership
Concurrently, Paragon announced the addition of former senior executives from Apogee Therapeutics to its leadership roster. This seasoned team will direct the clinical advancement of Paragon's proprietary assets and drive the formation of new ventures, beginning their focused efforts with the newly acquired Velaris.
The team previously worked together at Apogee, where they helped advance five Paragon-discovered assets into clinical development until Apogee's 2026 acquisition by AbbVie Inc. (ABBV) for over $10.9 billion.
TCRT Price Action: Alaunos Therapeutics shares were up 210.95% to $3.27 at the time of publication on Tuesday, according to market data.
