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Tuesday, Dec 18
2012, 10:35 AM
Galena Biopharma (GALE -18.7%) discloses the details of its unspecified secondary offering...
Galena Biopharma (GALE -18.7%) discloses the details of its unspecified secondary offering announced late yesterday, saying it sold 15.2M units for gross proceeds of about $24.3M. The units - consisting of one share of stock and a warrant - priced at $1.60 each. The warrants entitle holders to purchase half a share at an exercise price of $1.90. The company intends to use the proceeds for clinical trials of its breast cancer treatment NeuVax and a trial of its Folate Binding Protein-E39. The company has a current float of around 67.6M shares.