Date: 2015-03-18
Type of information: Private placement
Company: Galena Biopharma (USA - OR)
Investors:
Amount: $35.4 million
Funding type: private placement
Planned used: Galena Biopharma intends to use the net proceeds from this offering to fund its operations, including the ongoing commercialization of Abstral® (fentanyl) Sublingual Tablets and Zuplenz® (ondansetron) Oral Soluble Film, its ongoing Phase 3 PRESENT study and other clinical trials of its product candidates, and for other working capital and general corporate purposes.
Others: * On March 18, 2015, Galena Biopharma, a biopharmaceutical company developing and commercializing innovative, targeted oncology therapeutics that address major medical needs across the full spectrum of cancer care, announced the closing of its previously announced underwritten public offering of 24,358,974 shares of common stock, and warrants to purchase an aggregate of 12,179,487 shares of common stock at an exercise price of $2.08 per share. The underwriters also exercised their over-allotment option to purchase warrants to purchase an aggregate of 1,826,923 shares of common stock. The warrants are immediately exercisable and expire on the fifth anniversary of the date of issuance. The shares of common stock and warrants are immediately separable and will be issued separately. The net proceeds to Galena are expected to be approximately $35.4 million, assuming no exercise of the warrants and after deducting underwriting discounts and commissions and estimated offering expenses payable by Galena. * On March 12, 2015, Galena Biopharma announced it intends to offer shares of its common stock and warrants to purchase its common stock in an underwritten public offering. The shares of common stock and warrants to purchase common stock are being offered as units. The shares of common stock and warrants are immediately separable and will be issued separately. Raymond James will act as sole book-running manager for the offering.
Therapeutic area: Cancer - Oncology - Hematological diseases
