SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--May 17, 2006--Hana Biosciences (NASDAQ:HNAB - News) announced today that it has obtained commitments from several institutional investors to purchase approximately 4.7 million shares of its common stock at a price of $8.50 per share, including the purchase of approximately 72,000 shares by affiliated investors at $9.07 per share (the closing price of Hana’s common stock on the NASDAQ National Market on May 16, 2006). The transaction is subject to certain customary closing conditions and is expected to close on or about May 19, 2006. The aggregate gross proceeds of the offering are expected to be approximately $40.0 million and aggregate net proceeds are expected to be approximately $37.2 million.
