Caladrius Biosciences to Receive $10.9 Million of Non-Dilutive Capital Through New Jersey Technology Business Tax Certificate Transfer Program
Caladrius Biosciences, Inc. (CLBS)
Last caladrius biosciences, inc. earnings: 11/6 04:05 pm
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Source: GlobeNewswire
BASKING RIDGE, N.J., April 22, 2020 (GLOBE NEWSWIRE) -- Caladrius Biosciences, Inc. (Nasdaq: CLBS) (“Caladrius” or the “Company”), today announced that it has finalized an agreement to sell $10.9 million in New Jersey net operating losses (“NJ NOLs”) to a qualifying and approved buyer pursuant to the New Jersey Economic Development Authority (“NJEDA”)’s Technology Business Tax Certificate Transfer Program (the “Program”). The Program enables qualifying New Jersey-based biotechnology or technology companies to sell a percentage of their NJ NOLs and research and development tax credits to unrelated qualifying corporations. “The ability to convert our NJ NOLs into non-dilutive capital is an exciting development for Caladrius, especially in these challenging financial times, and we appreciate the NJEDA’s commitment to supporting research and development for small New Jersey-based companies,” stated David J. Mazzo, Ph.D., President and Chief Executive Officer of Caladrius. “I am prou
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