Financings In Brief: Alfacell
Executive Summary
Alfacell: Completes private placement of approximately $6 mil. The placement included the issuance of 1.6 mil. shares of common stock and 325,000 three-year warrants convertible to one share of common stock each at an exercise price of $7.50 per share. With the placement, Bloomfield, N.J.-based Alfacell will have approximately 13.5 mil. shares outstanding and operating funds for two years. Alfacell's lead product is the ribonuclease protein Onconase, which is in Phase III trials for advanced pancreatic cancer and a Phase II trial for malignant mesothelioma...