01:22 PM EST, 12/31/2024 (MT Newswires) -- Centessa Pharmaceuticals (CNTA) and some subsidiaries struck a deal for up to $200 million of term loans from Oxford Finance and other lenders, according to a regulatory filing late Monday.

The company received an initial $110 million loan, with additional $90 million available in future tranches, subject to clinical milestones and discretion of the lenders, the filing showed.

The loans will mature in December 2029, according to the filing. Proceeds from the initial loan were used to repay its outstanding debt.

Shares of the company were more than 2% lower in recent trading.

Price: 15.96, Change: -0.39, Percent Change: -2.39

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