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Article: Poniard's Public Offering Brings In $65M, Mainly For Picoplatin.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. 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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Washington Editor
Poniard Pharmaceuticals Inc. is raising $65.2 million in gross proceeds through a public stock offering.
The cancer-focused biopharmaceutical company, of South San Francisco, priced about 10.3 million common shares at $6.33 apiece in the deal. Poniard, which is selling all the shares, also granted the underwriters a 30-day overallotment option for a little more than 1.5 million additional shares.
A $75 million shelf registration statement was filed two months ago.
Members of the company's management team could not comment on the financing, per SEC rules, but a filing with the regulatory agency detailed their plans ...