Finance
Vaccine company withdraws previously announced financing
Published in Vaccine Weekly, October 29th, 2003
As a result of general market conditions in the biotechnology industry, the financing terms available to ID Biomedical were unacceptable.
"When we filed our registration statement, our share price was $19.05. Since that time, we have seen a significant decline in the biotechnology sector. As a result, our valuation requirements were not met by the market and we believe offering shares at a discount to our already reduced October 2, [2003] closing price would be simply unacceptable at this time to our current shareholders," stated Dr....
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Source: Vaccine Weekly (2003-10-29)
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