Finance

Genetic testing-focused company receives $3.8 million from exercise of warrants

Published in Gene Therapy Weekly, July 28th, 2005

Tm Bioscience Corporation (TMC), developing products in the commercial genetic testing market, announced it has received a total of $3.8 million since the end of the first quarter of 2005 from the exercise of warrants and compensation options relating to 2 private placements, closed on June 26, 2003 and December 22, 2003.

Any remaining warrants relating to these financings have now expired. The company now has 42.1 million shares issued and outstanding with 47.2 million shares on a fully diluted basis.

"By exercising these warrants, our shareholders have demonstrated their confidence in our strategy for growth," said Jim Pelot, chief financial...

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Source: Gene Therapy Weekly (2005-07-28)

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