Obsidian Therapeutics files S-1 for resale of 29.16 million shares post-merger with Galera
The clinical-stage TIL cell therapy company, formed through mergers completed August 3, 2026, registers shares for selling stockholders while reporting $34.4 million in cash as of June 30, 2026.
Obsidian Therapeutics, Inc. filed a Form S-1 with the SEC on August 28, 2026, covering the resale of up to 29,164,045 shares of common stock by selling stockholders. The filing relates to the resale by selling stockholders of up to an aggregate of 29,164,045 shares, and the company said it is not selling any shares itself and will not receive proceeds from the sale.1
The registration follows a series of corporate transactions. On August 3, 2026, Obsidian Therapeutics, Inc., formerly known as Gazelle Parent, Inc., completed mergers under an April 14, 2026 agreement, under which a merger subsidiary combined with Legacy Obsidian, followed immediately by a second merger subsidiary combining with Galera Therapeutics, Inc.1 Concurrent with the merger agreement, investors agreed to purchase Series C Non-Voting Convertible Preferred Stock from Legacy Galera for an aggregate purchase price of $350.0 million in a PIPE financing.1 Common stock began trading on Nasdaq under the symbol "OBX" on August 4, 2026.1 As of August 27, 2026, the closing price for the stock on Nasdaq was $17.04 per share.1
The company's lead program is amsoki-cel, formerly called OBX-115, which the company describes as an engineered autologous TIL cell therapy being tested in a Phase 2 trial for advanced melanoma and a Phase 1 trial in NSCLC, or non-small cell lung cancer. In a cohort of fifteen patients with treatment-resistant or refractory melanoma from an earlier Phase 1/2 trial, dosing at the recommended Phase 2 level produced a confirmed objective response rate of 67 percent, including two confirmed complete responses.1 Amsoki-cel has received Fast Track and Regenerative Medicine Advanced Therapy, or RMAT, designations from the FDA for treating unresectable or metastatic melanoma resistant to checkpoint inhibitor therapy.1
On financing, the company reported cash and cash equivalents and marketable securities of $34.4 million as of June 30, 2026, and said it believes proceeds from the PIPE financing, combined with existing cash, will fund operations into the second half of 2028.1
Looking ahead, the company expects to present updated melanoma data at the recommended Phase 2 dose in the fourth quarter of 2026, additional NSCLC Phase 1 results in the first half of 2027, and topline results from its melanoma registration-enabling cohort by year-end 2027.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.