New Issue: IDM Pharma concludes $12.89 million private placement of stock

By Sheri Kasprzak

New York, Feb. 21 - IDM Pharma, Inc. settled a private placement of stock with a group of investors led by Palo Alto Investors and Alta Partners for $12,878,925.

The investors bought 4,566,995 shares at $2.82 each.

The investors also received warrants for 782,568 shares, exercisable at $3.243 each. The warrants are priced at $0.125 each.

Located in Irvine, Calif., IDM is a pharmaceutical company focused on developing products to treat cancer.

Issuer:	IDM Pharma, Inc.
Issue:	Stock
Amount:	$12,878,925
Shares:	4,566,995
Price:	$2.82
Warrants:	For 782,568 shares
Warrant strike price:	$3.243
Investors:	Palo Alto Investors (lead), Alta Partners (lead)
Settlement date:	Feb. 20
Stock symbol:	Nasdaq: IDMI
Stock price:	$2.88 at close Feb. 20

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