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Obsidian Therapeutics (Nasdaq: OBX) completed its previously announced merger with Galera Therapeutics and closed an oversubscribed $350 million private placement from a syndicate of new and existing biotechnology-focused investors. The combined company will operate as Obsidian Therapeutics, and its shares are expected to begin trading on Nasdaq under the ticker “OBX” on August 4, 2026.
According to Obsidian, post-transaction cash and cash equivalents of approximately $350 million are anticipated to fund operations into the second half of 2028, including key milestones for lead TIL cell therapy candidate OBX-115: Phase 1 NSCLC data expected in the first half of 2027 and topline melanoma registration-enabling data expected by year-end 2027. Former Galera stockholders own about 1.2%, former Obsidian stockholders about 51.6%, and private placement investors about 47.2% of the combined company’s outstanding common stock. Galera stockholders of record as of July 31, 2026 received a non-transferable contingent value right tied to certain future events.