Epix to raise $16.3 million

AuntMinnie.com staff writers
Nov 11, 2007

MRI contrast developer Epix Pharmaceuticals of Lexington, MA, is planning to raise $16.3 million through a private placement of common stock.

The company said it will issue 5.2 million shares of its stock at a purchase price of $3.10 per share to institutional and accredited investors. Epix expects to utilize the proceeds of the offering to finance ongoing clinical trials, advance its R&D activities, and fund general corporate operations.

Related Reading

Epix receives FDA response, June 19, 2007

Epix posts big Q1 loss, May 9, 2007

Epix chairman to retire, May 2, 2007

Epix regains Nasdaq compliance, April 13, 2007

Epix Pharma says decision on contrast agent may take longer, April 3, 2007

Copyright © 2007 AuntMinnie.com

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