Guilford Pharmaceuticals
This article was originally published in The Gray Sheet
Executive Summary
Secondary offering of 2.7 mil. common stock shares raises net proceeds of about $45.6 mil. The Baltimore-based developer of polymer-based therapeutics for cancer, as well as products for the diagnosis and treatment of neurological diseases, plans to sell an additional 411,000 shares to institutional investors for $7.2 mil. The proceeds are tabbed for operating costs, capital expenditures and working capital. Legg Mason Wood Walker, Inc. and Ladenburg Thalmann & Co. were placement agents for the offering