BCTXW

BriaCell Therapeutics Corp. Warrants (Series W) provide holders with the right to purchase shares of BriaCell Therapeutics common stock at a predetermined strike price during a defined exercise period. These warrants were issued in connection with previous financing rounds and represent a form of equity incentive that gives investors additional upside participation beyond their common stock holdings. The warrants trade independently from the underlying common stock, allowing investors to gain targeted exposure to potential share price appreciation. The warrants become valuable when BriaCell's stock price rises above the exercise price, at which point holders can exercise their warrants to purchase shares at the below-market strike price. The difference between the current market price and the exercise price represents the intrinsic value of the warrant. Additionally, warrants carry time value based on the remaining duration until expiration and the expected volatility of the underlying stock. This combination creates leverage, where warrant prices can increase by larger percentages than the underlying stock during periods of appreciation. BriaCell is a clinical-stage biotechnology company focused on immunotherapy treatments for breast cancer and solid tumors, with its lead candidate Bria-IMT in clinical development. Positive clinical trial results, regulatory progress, strategic partnerships, or other value-creating events could drive significant stock price appreciation, benefiting warrant holders. However, warrants also carry higher risk than common stock - if the stock price remains below the exercise price through the warrant's life, they expire without value. These instruments suit investors who believe in BriaCell's long-term prospects and seek leveraged exposure to potential clinical and commercial success.