By Sheri Kasprzak
Atlanta, March 4 - NeoRx Corp. said it has closed a private placement of stock for $4.15 million.
The company sold 3.32 million shares at $1.25 each to institutional investors.
The investors in the deal also received warrants for 1,328,000 shares at $2.00 each for five years.
Rodman & Renshaw LLC was the placement agent.
Based in Seattle, NeoRx is a cancer therapeutics company. It plans to use the proceeds to initiate clinical trials for its NX 473 product candidate.
| Issuer: | NeoRx Corp.
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| Issue: | Stock
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| Amount: | $4.15 million
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| Shares: | 3.32 million
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| Price: | $1.25
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| Warrants: | For 1,328,000 shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $2.00
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| Placement agent: | Rodman & Renshaw LLC
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| Settlement date: | March 4
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| Stock price: | $1.41 at close March 4
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