Palatin raises $11 million

AuntMinnie.com staff writers

Nov 11, 2001

Radiopharmaceutical developer Palatin Technologies has added $11 million to its war chest in a stock offering to a group of investment firms. The Princeton, NJ-based firm sold approximately 4.9 million shares, generating gross proceeds of $11 million. Palatin said it will use the cash for general corporate purposes.

For every four shares purchased, the investors also received a five-year warrant to purchase one share of common stock at a 20% premium to the per-share purchase price in this offering.

By AuntMinnie.com staff writers
November 12, 2001
Related Reading

LeuTech to be tested for anthrax detection utility, November 5, 2001

Palatin narrows loss in 2000, October 6, 2000

FDA wants more data on Palatin’s LeuTech agent, September 28, 2000

Copyright © 2001 AuntMinnie.com

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