Pharmos (PARS) Message Board

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Biotech / Medical : Pharmos (PARS)

PARS 2.700

+13.6%

Jan 21 4:00 PM EST

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To: Gabe Fernandez who wrote (1074)	3/6/2000 9:08:00 PM
From: LTK007	Read Replies (1) of 1386

Gabe,is this what you are refering,it is all to the good--this taken from todays PARS press release <<Pharmos also announced today that it has completed a second round of financing by taking down the remaining unallocated shares of its shelf registration, raising an additional $5.5 million in gross proceeds. The shares were sold at prices ranging from $2.50 to $6.25. Combined with the previously reported $7.3 million financing, the Company raised a total of $12.8 million in this exercise. ``We felt it was extremely important to take quick advantage of the improvement in the Company's stock price,' said Robert W. Cook, Pharmos Vice President Finance and CFO. ``The stock price's upward movement afforded us a great opportunity to lock in funding to support the Company's development programs while our ophthalmic revenues continue their steady growth. Now, in addition to the clinical development of dexanabinol for traumatic brain injury, we can put more resources behind our dexanabinol analog and SERM discovery programs.'>>

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