By Devika Patel
Knoxville, Tenn., Sept. 28 - Napo Pharmaceuticals, Inc. announced it will take in £2 million in a private placement of shares.
The company will sell 2,844,584 new common shares at 70p apiece.
Proceeds will be used to finance costs of the US CRO-HIV Phase 3 Two Stage Adaptive Design clinical trial.
Based in South San Francisco, Calif., Napo focuses on the development and commercialization of proprietary pharmaceuticals for the global market.
| Issuer: | Napo Pharmaceuticals, Inc.
|
| Issue: | New common shares
|
| Amount: | £2 million
|
| Shares: | 2,844,584
|
| Price: | 70p
|
| Warrants: | No
|
| Pricing date: | Sept. 28
|
| Stock symbol: | London: NAPL
|
| Stock price: | 72p at close Sept. 27
|
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