Progenics Pharmaceuticals, Inc. (PGNX) said Thursday that it has priced an underwritten public offering of 11 million primary shares of its common stock at a public offering price of $2.00 per share.
The gross proceeds from the sale of the shares, before underwriting discounts and commissions and other offering expenses, are expected to be about $22 million.
The company has also granted the underwriter a 30-day option to purchase 1.65 million additional shares of common stock.
The offering is expected to close on or about December 4.
All of the shares sold in the offering are being sold by Progenics, with the proceeds to be used for research and development and general corporate purposes.
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