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Article: Cell Genesys Raising $25M For GVAX Immunotherapies.
- 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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Senior Staff Writer
As its cancer immunotherapies make their way through Phase II and Phase III trials, Cell Genesys Inc. decided to sell 5.75 million shares in a public offering that could net the company $25 million.
The closing is expected next week.
San Francisco-based Cell Genesys, which was in a quiet period Friday, said in its prospectus that the underwriter - Credit Suisse Securities LLC, of New York - agreed to buy the shares at $4.40 each. It also could purchase another 862,500 additional shares to cover overallotments. If exercised in full, the option would bring Cell Genesys another $3.8 million in gross proceeds.
The ...