By Devika Patel
Knoxville, Tenn., Jan. 12 - EntreMed Inc. said it settled a $2.5 million registered direct offering of stock. Wharton Capital Markets LLC was the agent.
The company sold 3,125,000 common shares at $0.80 per share.
Proceeds will be used for clinical development of the Aurora A/angiogenic kinase inhibitor, ENMD-2076, and for other general corporate purposes.
Based in Rockville, Md., EntreMed develops therapeutic treatments for cancer and inflammatory diseases.
| Issuer: | EntreMed Inc.
|
| Issue: | Common shares
|
| Amount: | $2.5 million
|
| Shares: | 3,125,000
|
| Price: | $0.80
|
| Warrants: | No
|
| Agent: | Wharton Capital Markets LLC
|
| Settlement date: | Jan. 12
|
| Stock symbol: | Nasdaq: ENMD
|
| Stock price: | $1.02 at close Jan. 11
|
| Market capitalization: | $84.3 million
|
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