Staying up-to-date has never been simpler. Sign up for the free GenePool newsletter today!
BERKELEY HEIGHTS, N.J., May 16, 2013 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (Nasdaq:CYCC) (Nasdaq:CYCCP) (Cyclacel or the Company), today announced the pricing of the underwritten offering of 6,666,667 shares of its common stock at a price to the public of $3.00 per share. Cyclacel has granted the underwriters a 30-day option to purchase up to an aggregate of 166,667 shares of Common Stock to cover over-allotments, if any. All of the shares of common stock in this offering are to be sold by Cyclacel. The common stock offering is being conducted as a public offering by means of a prospectus supplement. Cyclacel expects to receive gross proceeds of approximately $20 million from this offering, excluding the underwriters’ over-allotment option and before deducting estimated expenses. The Company intends to use the proceeds from this offering to complete the SEAMLESS pivotal Phase 3 trial of its most advanced product candidate, sapacitabine, and general corporate purposes. This offering is expected to close on May 21, 2013, subject to customary closing conditions.
Help employers find you! Check out all the jobs and post your resume.
