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BioSante nets $16.9mm through registered direct offering

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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