SAN MATEO, Calif., April 22 /PRNewswire-FirstCall/ -- Nile Therapeutics, Inc. (Nasdaq:NLTX - News), a company focused on the development of novel therapeutics for heart failure patients, announced the pricing of its previously announced underwritten public offering of 6,500,000 units of its securities at a public offering price of $0.70 per unit. Each unit consists of one share of Nile common stock and 0.30 warrants to purchase common stock. Each warrant has a term of five years and represents the right to purchase one share of common stock at an exercise price of $0.94 per share. No fractional warrants will be issued. The units will immediately separate and the common stock and warrants will be issued separately. The warrants have been approved for trading on the Nasdaq Capital Market under the symbol "NLTXW" and are expected to begin trading on or promptly following April 22, 2010. The offering is expected to close on or about April 27, 2010, subject to customary closing conditions.
