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Article: ImaRx Seeking $75M IPO For Anti-Clotting Products.
- 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
ImaRx Therapeutics Inc., which is working on anti-clotting therapies, filed for an estimated $75 million initial public offering and is seeking the Nasdaq symbol "IMRX."
The number of shares and the price range have not been disclosed, but in an SEC filing, the company said the lion's share of the funds would be used for developing its thrombolytic drugs and SonoLysis therapy. Specifically, about $22 million is tabbed for continuing the clinical development of those two programs for ischemic stroke and other vascular disorders. Another $14 million would be used to fund contract manufacturing.
The clot-dissolving drugs are ...