$24 million placement for Ligand Pharma

9 January 2001

Ligand Pharmaceuticals has completed a $24 million private placement oftwo million shares of common stock to what the company describes as "selected institutional and accredited investors." Among this group, Elan Corp of Ireland purchased 400,000 shares in the offering, meaning that it currently owns approximately 12.8% of Ligand common stock outstanding, or 18.6% on a fully-diluted basis.

Ligand intends to use the proceeds from the placement in a number of areas, including the expansion of a sales and marketing infrastructure, funding clinical trials and new product launches.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK





Today's issue

Company Spotlight