By Sheri Kasprzak
New York, Aug. 1 - Hana Biosciences plans to raise up to $5 million in a direct placement.
The company plans to sell up to 2.5 million shares at $2.00 each, a 29.8% premium to the company's $1.54 closing stock price on Tuesday.
The shares will be sold under the company's shelf registration to Par Pharmaceutical, Inc.
Proceeds will be used for clinical and pre-clinical development of the company's product pipeline, as well as for general corporate purposes and working capital.
Based in South San Francisco, Hana develops treatments for advanced cancer.
| Issuer: | Hana Biosciences
|
| Issue: | Stock
|
| Amount: | $5 million
|
| Shares: | 2.5 million
|
| Price: | $2.00
|
| Warrants: | No
|
| Pricing date: | Aug. 1
|
| Investor: | Par Pharmaceutical, Inc.
|
| Stock symbol: | Nasdaq: HNAB
|
| Stock price: | $1.45 at close Aug. 1
|
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