Estrella Immunopharma closes $8 million financing round

Estrella Immunopharma Inc. (NASDAQ: ESLA, ESLAW) completed an $8.0 million registered direct offering and concurrent private placement that closed January 6, 2026, according to a company statement.

The clinical-stage biopharmaceutical company sold 4,063,290 shares of common stock and 1,000,000 pre-funded warrants to a single healthcare-focused institutional investor. The company also issued common warrants to purchase up to 7,594,935 shares of common stock in the concurrent private placement.

The combined offering price was $1.58 per share and accompanying warrant, or $1.57999 for each pre-funded warrant and accompanying warrant. The pre-funded warrants carry an exercise price of $0.00001 per share and are exercisable immediately without expiration until fully exercised. The common warrants have an exercise price of $1.39 per share and will expire five years after the initial exercise date.

Estrella plans to use the net proceeds alongside existing cash for general corporate purposes and working capital. The company develops CD19 and CD22-targeted ARTEMIS T-cell therapies for treating cancers and autoimmune diseases.

"We are well-positioned to advance our lead program, EB103, through its Phase II trial and towards key value-inflection points," said Dr. Cheng Liu, President and Chief Executive Officer.

Aegis Capital Corp. served as exclusive placement agent for the offerings. The registered direct offering was conducted under a shelf registration statement declared effective by the Securities and Exchange Commission on December 19, 2024.

The common warrants were sold in a private placement transaction not registered under the Securities Act of 1933. Estrella has agreed to file registration statements with the SEC covering the resale of shares issuable upon exercise of the common warrants.

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