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BioSante nets $16.9mm through registered direct offering
30 Dec 2010
Executive Summary
BioSante Pharmaceuticals Inc. (sexual health and cancer therapies) netted $16.9mm through the registered direct offering of 10.6mm common shares at $1.70 each (an 11% premium) to new and returning institutional investors. The company also issued five-year warrants to buy 5.3mm shares exercisable at $2. Rodman & Renshaw was the placement agent. The company will use some of the proceeds to fund ongoing Phase III trials of LibiGel, a transdermal testosterone gel for female sexual dysfunction.
Deal Industry
- Biotechnology
- Pharmaceuticals
-
Pharmaceuticals
- Vaccines
-
Drug Delivery
- Transdermal
Deal Status
- Final
Deal Type
-
Financing
- Private Investment in Public Equity
- Private Placement
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BioSante nets $16.9mm through registered direct offering
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