Seeking Alpha

Ohr raises $18M, shares plummet

  • Ohr Pharmaceutical (OHRP) is raising $18M by selling 1.8M shares at $10 a piece to institutional and accredited investors in a registered direct offering.
  • Ohr will use the money for general corporate purposes, including for its OHR-002 wet-AMD study and for trials of its Squalamine eye drops for the treatment of diabetic macular edema.
  • Ohr expects interim data on the OHR-002 study this quarter and final data in Q1 2015.
  • Shares are -17%. (PR)
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