MRI contrast developer Epix Pharmaceuticals of Lexington, MA, is planning to raise $16.3 million through a private placement of common stock.
The company said it will issue 5.2 million shares of its stock at a purchase price of $3.10 per share to institutional and accredited investors. Epix expects to utilize the proceeds of the offering to finance ongoing clinical trials, advance its R&D activities, and fund general corporate operations.
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