Finance

Neuroscience company announces $11.26M private placement for CX717 development

Published in Biotech Business Week, January 10th, 2005

Cortex Pharmaceuticals, Inc., (COR) announced that it has entered into a definitive agreement with new and existing institutional investors relating to a private placement of $11.26 million of securities through the sale of 4,233,333 shares of common stock at $2.66 per share.

The agreement also includes 5-year warrants to purchase an additional 2,116,666 shares of the company's common stock at an exercise price of $3.00 per share by the investors. Rodman & Renshaw, LLC, served as the placement agent for the transaction.

Roger Stoll, PhD, chairman and CEO of Cortex, stated, "With this financing, Cortex for the first time in its history has the kind of...

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Source: Biotech Business Week (2005-01-10)

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