Thanks for your picks, here's news on the CNSI secondary public offering...
Cambridge NeuroScience, Inc. Completes Public Offering of 2,400,000 Shares of Common Stock at $11 per Share
Friday, January 31, 1997 8:34 AM
CAMBRIDGE, Mass., Jan. 31 /PRNewswire/ -- Cambridge NeuroScience, Inc. has completed a public offering of 2,400,000 shares of its common stock at a price of $11 per share. The size of the offering was increased to 2,400,000 shares from the 2,000,000 shares the Company originally intended to offer. All 2,400,000 shares are being offered by Cambridge NeuroScience, Inc. The offering is being managed by Robertson, Stephens & Company LLC and PaineWebber Incorporated.
The net proceeds of the offering will be used for funding of clinical trials and other research and development activities, and general corporate purposes.
Cambridge NeuroScience is a leading neuroscience company engaged in the development of proprietary pharmaceuticals to treat severe disorders of, or injuries to, the nervous system. The Company's product candidates and programs include (i) ion-channel blockers for the treatment and prevention of brain damage resulting from traumatic brain injury ("TBI"), stroke and surgery, as well as for the treatment of certain forms of neuropathic pain, and (ii) growth factors for the treatment of multiple sclerosis ("MS") and peripheral neuropathies. CERESTAT(R), the Company's most advanced product candidate, is a small molecule ion-channel blocker currently in Phase III clinical trials for the treatment of both TBI and stroke.
A prospectus relating to these securities may be obtained from Robertson, Stephens & Company LLC, 555 California Street, Suite 2600, San Francisco, California, 94104, (415) 781-9700, or PaineWebber Incorporated, 1000 Harbor Boulevard, Weehawken, NJ, 00087, (212) 902-7336. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. SOURCE Cambridge NeuroScience, Inc. |
