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Avigen, Inc.
Avigen to raise $21.2 million in private placement of common stock
June 2nd, 2006
Avigen, Inc., (AVGN) a biopharmaceutical company focused on unique small molecule therapeutics to treat chronic neurological conditions, has entered into agreements to raise approximately $21.2 million through a private placement of common stock with institutional investors. The transaction, which is expected to close on or about May 15, 2006, involves the sale of approximately 3.9 million shares of common stock at a purchase price of $5.37 per share. Avigen intends to use the net proceeds from the placement to expand the scope of its planned development programs to pursue additional applications for its current neurologic compounds, including AV650, for the treatment...
Source: Medicine & Law Weekly (2006-06-02)
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