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Article: Nabi Biopharmaceuticals Completes Common Stock Offering, Underwriters Exercise Overallotment Option.
- Article from:
- PR Newswire
- Article date:
- December 29, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nabi Biopharmaceuticals today announced the successful completion of its underwritten common stock offering. A total of 9.775 million shares were issued and net proceeds after expenses from this transaction generated approximately $92 million. Approximately $20 million of proceeds will be used to develop or acquire internal commercial manufacturing capacity for StaphVAX(R), the company's lead product in development for preventing Staph aureus blood stream infections, and $9.5 million will be used to repay a term loan under the company's existing credit agreement. Additional planned uses of proceeds include support for future clinical programs, sales and marketing, and ...