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Article: Santarus Raising $31.2M To Support Pending Zegerid NDAs.
- 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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Staff Writer
Santarus Inc. is raising $31.2 million to support sales and marketing costs of its proton pump inhibitor (PPI), Zegerid, and to fund other corporate activities.
The San Diego-based company is offering about 7.35 million shares of its common stock at $4.25 per share. New York-based SG Cowen & Co. LLC is acting as lead placement agent, while Toronto-based RBC Capital Markets Corp. is serving as co-placement agent for the offering, expected to close Aug. 22.
This marks Santarus' second follow-on offering since the company went public in April 2004 through a $54 million initial public offering, with shares priced at $9 each. It raised ...