Barrier Thera to raise $25M in offering

New Jersey, USA-based Barrier Therapeutics, a firm developing and commercializing products in the field of dermatology, say that it has priced a registered direct offering of its common stock for around $25.0 million in gross proceeds.

Under the terms of the financing, Barrier will sell approximately 4.8 million shares of its common stock at $5.25 per share to a select group of institutional investors. All shares offered by the company are pursuant to an effective registration statement filed with the Securities and Exchange Commission on May 17, 2006. The closing is scheduled to occur on or about September 20 and is subject to customary conditions.