The following article appeared today (2 in one week!):
RICHMOND, Calif., Jan 14 (Reuters) - Onyx Pharmaceuticals Inc said Wednesday it sold 1.4 million common shares to two institutional
investors at $7.125 per share.
Onyx said it raised $10 million in the private placement, which closed January 12. It said it has agreed with the investors to file within 90 days a registration statement with the Securities and Exchange Commission for possible future resale of the shares.
The buyers were International Biotechnology Trust Plc of London, managed by the Rothschilds, and Lombard Odier & Cie of Geneva, Onyx said.
Hollings Renton, president and chief executive officer of Onyx, said the company's cash position was already a strong $35 million as the new year was ushered in.
''Now, with the added capital this placement provides, we can confidently pursue our plans for active clinical development of ONYX-O15, our novel therapeutic virus for cancer,'' he said.
The proceeds will also help support other ongoing cancer research and development efforts, he said. |
