SCOLR Pharma, Inc. Announces Closing Of $11.8 Million Financing

BELLEVUE, Wash.--(BUSINESS WIRE)--April 21, 2006--SCOLR Pharma, Inc (AMEX: DDD - News) today announced it has closed its previously reported registered direct offering of 2,370,100 shares of common stock at a price of $5.00 per share. The aggregate gross proceeds from the direct offering were approximately $11,850,500. The net proceeds, after deducting the placement agents' fee and other estimated offering expenses, were approximately $10.9 million. The net proceeds of the financing will be used for general corporate purposes, including working capital, product development and capital expenditures, as well as for other strategic purposes.
MORE ON THIS TOPIC