Alaunos Therapeutics, Inc. (NASDAQ: TCRT) has completed its acquisition of Velaris Therapeutics, Inc., a biotechnology firm focused on developing therapies for pulmonary arterial hypertension and related cardiopulmonary diseases.
This strategic acquisition provides Alaunos with a portfolio of ActRII-Fc ligand traps and complementary biologics aimed at addressing signaling imbalances that contribute to pulmonary vasculature remodeling in various cardiopulmonary conditions.
Velaris Therapeutics has been advancing a pipeline of potentially transformative therapies specifically targeting pulmonary hypertension and related diseases, enhancing Alaunos's capabilities in this therapeutic area.
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The integration of Velaris's innovative approaches is expected to bolster Alaunos's efforts in developing effective treatments for these complex conditions.
In pre-market trading, Alaunos Therapeutics, Inc. (NASDAQ: TCRT) is up 86.67% to $1.96. This represents a gain of $0.91 from the previous close of $1.05, and the shares continue to trade between their 52-week low of $0.72 and high of $4.50.