Hybridon raises $14.6M from financing round
The USA's Hybridon says that it has raised $14.6 million from a private placement with institutional and accredited investors. The company sold around 20 million shares of common stock.
Net proceeds from the financing, which totaled around $13 million after tax, are intended for use in ongoing research and product development activities, most notably, the costs of continuing ongoing and future trials of the firm's two leading compounds HYB2055 and GEM(r)231.
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