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Article: Lev Raising $35 Million To Push C1 Inhibitor.
- 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
Lev Pharmaceuticals Inc. is expecting to raise $35 million from a registered direct offering to advance Cinryze, its C1 inhibitor for hereditary angioedema.
The New York-based firm plans to sell about 23.3 million units priced at $1.50 each to a select group of institutional investors. Each unit consists of one share of common stock and warrants to purchase an additional 0.2 shares of common stock. The exercise price for the warrants is set at $1.86 per share.
At closing, expected to take place Aug. 17, the biopharmaceutical maker plans to issue about 23.3 million shares of common stock and warrants to purchase about 4.7 ...