Cyclacel Pharmaceuticals (CYCC -1%) says it's entered into a common stock purchase agreement with Aspire Capital Fund to help fund Phase III clinical trials for its leukemia drug sapacitabine. Under the terms of the agreement, Aspire will purchase up to $20M of CYCC's common stock from time to time over the next two years as directed by CYCC. Aspire already invested its first $1M in CYCC common stock at $6.29 on December 13th, immediately after executing the purchase agreement.
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