Cadence Pharmaceuticals Closes $86.6 Million Private Placement
The warrants exercisable in cash or by net exercise at a price of $7.84 per share. According to Candence, the price paid for the common stock is equal to the consolidated closing bid price on the Nasdaq Global Market on the day of pricing, February 13, 2009.
The financing was led by Venrock with participation by Frazier Healthcare Ventures, Domain Associates, Versant Ventures, New Enterprise Associates, Bay City Capital and T. Rowe Price Associates.
San Diego-based Cadence Pharmaceuticals is a biopharmaceutical company focused on in-licensing, developing and commercializing proprietary product candidates principally for use in the hospital setting.
The company currently has two Phase III product candidates in development, Acetavance for the treatment of acute pain and fever, and Omigard for the prevention of catheter-related infections.
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