Full Press Release Details
Estrella Immunopharma Announces $1 Million Share
Repurchase Authorization
Emeryville, Jan 30, 2024 - Estrella Immunopharma, Inc. (NASDAQ:
ESLA, ESLAW ) ("Estrella Immunopharma" or "Estrella"), a clinical-stage biopharmaceutical company developing CD19
and CD22-targeted ARTEMIS T-cell therapies with the capacity to address treatment challenges for patients with blood cancers and
solid tumors, is pleased to announce that its board of directors has authorized share repurchases of up to $1 million of its common stock.
"The share repurchase authorization underscores Estrella's
commitment to driving shareholder value, as well as management's confidence in Estrella's value and long-term potential,"
said Dr. Cheng Liu, CEO and Chairman of Estrella.
"The share repurchase authorization reflects confidence in Estrella's
strategic direction and continued development of our innovative therapies," commented Peter Xu, CFO of Estrella.
The authorization does not constitute a formal or binding commitment
to make any share repurchases and the timing, amount and method of any share repurchases made pursuant to the authorization will be determined
at a future date depending on market conditions and other factors.
About Estrella Immunopharma
Estrella is a clinical-stage biopharmaceutical
company developing CD19 and CD22-targeted ARTEMIS T-cell therapies with the capacity to address treatment challenges for patients
with blood cancers and solid tumors. Estrella's mission is to harness the evolutionary power of the human immune system to transform the
lives of patients fighting cancer. To accomplish this mission, Estrella's lead product candidate, EB103, utilizes Eureka's ARTEMIS
technology to target CD19, a protein expressed on the surface of almost all B-cell leukemias and lymphomas. Estrella is also developing
EB104, which also utilizes Eureka's ARTEMIS technology to target not only CD19, but also CD22, a protein that, like CD19, is expressed
on the surface of most B-cell malignancies. Estrella is also collaborating with Imugene Limited and its product candidate, CF33-CD19t
an oncolytic virus ("CF33-CD19t"), to research the use of EB103 in conjunction with CF33-CD19t to treat solid tumors using a
"mark and kill" strategy. For more information about Estrella Immunopharma, please visit estrellabio.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, including statements regarding Estrella's share repurchase authorization,
its long-term potential and the continued development of its therapies . These statements may be identified by the use of forward-looking
expressions, including, but not limited to, "potential," "future," "continued" and similar expressions
and the negatives of those terms. These statements relate to future events or future financial performance and involve known and unknown
risks, uncertainties, and other factors that could cause actual results, performance, or achievements to differ materially from those
expressed or implied by these forward-looking statements. Factors that may cause actual results, performance or achievements to differ
materially from current expectations include, among other things, those listed under "Risk Factors" and elsewhere in our filings
with the Securities and Exchange Commission. The forward-looking statements in this press release represent our views as of the date of
this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect
to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent
required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date
subsequent to the date of this press release.
Estrella Immunopharma, Inc.