Magainin Pharm (MAGN) Message Board

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Biotech / Medical : Magainin Pharm (MAGN)

MAGN 9.090

+6.2%

Oct 31 9:30 AM EDT

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To: Shlepper who wrote (212)	10/22/1999 10:16:00 AM
From: Mike McFarland	Read Replies (1) of 233

Magainin Pharmaceuticals Inc. Announces Completion of Public Offering biz.yahoo.com These shares were sold at $1.00 per share, a formula-based average stock price over an agreed upon period of time through October 15, 1999, the date the Company's registration statement was declared effective. Members of the Company's board of directors also purchased an aggregate of 140,000 shares of common stock at $1.125 per share, the closing price on Friday, October 15, 1999. Proceeds from the offering totaled $4.0 million. That sure does not seem like an awful lot of money...but nice that there is some effort to support this. Actually, I'd like to know why the price of the stock behaved so strangely yesterday...slumping as low as 13/16ths before closing at a buck. Well, I suppose I can buy my shares back for a buck... nope, up to 1 1/8ths--and just for a smidge. What a racket this market makers have--til the next year like 1929--then they'll wish they had real jobs <g>

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