Monday, July 20, 2009

OncoGenex Gets $9.5M In PIPE

Bothell-base OncoGenex Pharmaceuticals, which is focusing on treatments for cancer, disclosed Monday that the firm has inked a deal with institutional investors, where those investors will buy 475,000 shares of its common stock at $20 per share. The registered direct offering will raised $9.5M for the firm. Names of the institutional investors were not disclosed. The publicly held firm said the new funding will go towards manufacturing activities and general corporate purposes.