Nastech stock sale raises $12.5M

USA-based Nastech Pharmaceutical has raised $12.5 million through thesale of approximately 1.14 million shares of common stock at a price of $11.00 per share to an institutional investor. This represents a premium of 15% to Nastech's closing price on June 24, the day prior to the sale. The transaction also includes warrants to purchase initially 511,364 shares of Nastech common stock, subject to adjustment pursuant to the terms of the warrants, at an exercise price of $14.40 per share.