19.96%SPY 79.52 
5.39%XLF 9.68 3.09%
Digg
Del.icio.us
Newsvine 
Facebook
Stumbleupon
BETHESDA, Md. - Biotechnology company Micromet Inc. said Tuesday it will sell $40 million in stock to fund development of its lead drug candidate, an antibody designed to treat cancer.
Micromet said it will sell 9.4 million shares at $4.25 per share to various institutional investors by Thursday. The company also plans to offer the option to buy an additional 2.8 million shares at $4.63 per share over the next five years. The funds will be used to fund research and development, and trials of the antibody blinatumomab.
The stock closed at $4.15 Monday.
Blinatumomab, or MT103/MEDI-538, is an antibody developed with Micromet's BiTE technology, which uses the body's T cells to attack tumor cells. It is being tested in acute lymphoblastic leukemia, the most common cancer among children, and non-Hodgkin's lymphoma, and has orphan drug status in two other cancers.
Micromet is developing the drug with MedImmune, a subsidiary of British drug maker AstraZeneca PLC.
Citigroup Inc. shares tumbled below $5 a share Thursday to their lowest level in...
U.S stocks fell on Wednesday as investors grew concerned that a bailout loan package for ailing automakers would fail to be approved by U.S. lawm...
Authorities in Maine say no charges are planned against the owner of a store where a sign invited customers to bet on a date when President-elect...
Get your next web design project done with our los angeles web design team - Best web design with great price.
Baldwin Linguas:
Translations Interpreting Localization:
English French Portuguese Spanish
Split Big Profits! You Find it & We Fund it! Co-Own Or Cash Out! Get Free Info Kit Now!
Partners   
|
© 2008 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives
EMAIL
PRINT
RSS
SHARE
-0.57
