Vical secures $50 million through at-the-market common stock offering

Stifel, Nicolaus helps finance corporate purposes and clinical trials

By Devika Patel

Knoxville, Tenn., Nov. 7 - Vical Inc. negotiated a $50 million "at the market" offering of its common stock, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission.

Stifel, Nicolaus & Co., Inc. is the agent.

Proceeds will be used for general corporate purposes, including clinical trial expenses, research and development expenses, general and administrative expenses, manufacturing expenses and potential acquisitions.

Vical, based in San Diego, develops DNA-based vaccines for infectious diseases and cancer.

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