EpiCept puts price on its shares

August

EpiCept Corp. of Eastview said this morning the 5.53 million shares of its stock available in an upcoming public offering will be priced at 54.3 cents apiece. The five-year warrants to buy up to 2.76 million shares will carry an exercise price of 48 cents a share, the company said.

EpiCept will take in about 2.65 million in net proceeds from the offering. The company plans to use the money for general corporate purposes and to repay a portion of a secured loan.

The company is seeking to develop drugs for cancer patients.

EpiCept last week announced it had received a regulatory approval in Europe for Ceplene, a treatment for a type of leukemia. The Committee for Medicinal Products for Human Use issued a positive opinion regarding the marketing of Ceplene.

The companyâ€™s shares were trading at 58 cents, down 8 cents, at about 10:20 a.m.

This entry was posted on Monday, August 4th, 2008 at 9:45 am by Allan Drury.
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