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Biotech / Medical : CYTO -- Ignore unavailable to you. Want to Upgrade?

To: atskaggs who wrote (7822)	3/28/2000 11:39:00 PM
From: Jim Oravetz	Read Replies (1) \| Respond to of 8116

Here are some more details: Cytogen announced today that it has filed a Registration Statement with the Securities and Exchange Commission in connection with its proposed public offering of 6,000,000 shares of common stock. The shares will be offered by an underwriting group led by Warburg Dillon Read LLC and CIBC World Markets Corp. The Company will grant to the underwriters an option to purchase up to an additional 900,000 shares to cover over-allotments, if any, incurred in connection with the offering. The Company intends to use the net proceeds from the offering for continued development, manufacturing and commercialization of its proteomics technologies through its wholly owned subsidiary, AxCell Biosciences Corporation; research and development of additional products, including diagnostic and therapeutic products based on its Prostate Specific Membrane Antigen (PSMA) technology; expansion of the Company's sales and marketing capabilities; and for other general corporate purposes, principally working capital and capital expenditures. +++++++++++++= Look at that - there is even mentions of over-allotments! Now there is a change for CYTO. This is good news if the sale goes according to JoeR's plans. Several biotech's have floated more shares, or at least announced their intention to do so. Some others had deals in the works, then scrapped them. The market as a whole is much more receptive to new biotech issues since the Dec-March run up. This speaks of confidence, IMHO, in what CYTO has coming down the road. The build out of the sales force will hopefully finally lead to lots more use of their approved products. The notice of inclusion in std treatment for Prostrate patients is a plus. Jim