Firm raised 53.4 mil. after expenses, from March offering of 690,000 units (two common shares and one warrant per unit). Firm has also decided to pursue development internally of a group of compounds with potential use as osteoporosis agents. The products had been licensed to Monsanto's Continental Pharma unit, but that firm subsequently relinquished the rights ("The Pink Sheet" May 27. p. 6).
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