Finance
Product candidate gets boost from $12.8 million private placement
Published in Obesity and Diabetes Week, April 5th, 2004
The purchasers include new and existing institutional, strategic, and accredited investors. The company has agreed to sell an aggregate of approximately 9.8 million shares and to issue to the investors 5-year warrants to purchase an aggregate of approximately 4.9 million shares.
Burnham Hill Partners and Duncan Capital served as nonexclusive placement agents for the offering.
The proceeds of the financing are expected to be used for working capital purposes to further development of the company's...
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