BALA CYNWYD, Pa.--(BUSINESS WIRE)--Dec. 9, 2005--Duska Therapeutics, Inc. (OTCBB:DSKT), announced today that it has commenced a private offering of up to $2,000,000 of its common stock. The shares will be offered at a price of $0.25 per share and will initially only be offered to persons who are both existing shareholders of the company and who are “accredited investors,” as defined in Regulation D under the Securities Act of 1933, as amended (the “Securities Act”). If subscriptions for more than $2,000,000 are received from existing shareholders, the company will allocate the shares among the subscribing shareholders. If the offering is not fully subscribed from the existing shareholders, the company may offer the unsold shares to a limited number of other qualified accredited investors. The net offering proceeds will be used for general and administrative expenses, and depending on the amount of proceeds raised in this offering, to fund the further development of the company’s drug candidates, and a portion of the costs associated with the pending acquisition of a small molecule that could be used as one of the company’s drug candidates.
