By Sheri Kasprzak
Atlanta, Oct. 13 - Halozyme Therapeutics Inc. sold $13.9 million in newly issued stock Wednesday.
The San Diego-based biopharmaceutical company issued 7.9 million shares at $1.75 to both institutional and accredited investors. The investors also received warrants for up to 2.4 million additional shares at $2.25 per share.
The financing, according to chairman and chief executive officer Jonathan Lim, provides the company with enough cash to fund its currently planned operations into 2006.
| Issuer: | Halozyme Therapeutics Inc.
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| Issue: | Stock
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| Amount: | $13.9 million
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| Shares: | 7.9 million
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| Price: | $1.75
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| Warrants: | For 2.4 million shares
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| Warrant strike price: | $2.25
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| Placement agent: | SG Cowen & Co.
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| Settlement date: | Oct. 13
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| Stock price: | $2.05 at close on Oct. 13
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