Business in the Burbs

Electro-Optical Sciences to sell 2.4 million shares

July

Electro-Optical Sciences Inc., an Irvington-based company developing a device to detect melanoma skin cancer, said that it agreed to sell 2.4 million shares of stock to institutional investors at a negotiated purchase price of $6.25 per share. Electro-Optical said that it expects to use $15 million in proceeds from the stock sale to fund its efforts to gain regulatory approval and to commercialize MelaFind, the melanoma detetecting device.

This entry was posted on Friday, July 17th, 2009 at 1:46 pm by Jay Loomis. You can follow any responses to this entry through the RSS 2.0 feed.
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