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Financings In Brief: Guilford Pharmaceuticals

Executive Summary

Guilford Pharmaceuticals: Baltimore-based neurological diseases R&D firm closes offering of 3 mil. shares of common stock, resulting in estimated net proceeds of $18 mil. Guilford notes Aug. 16 that it sold most of the shares to institutional investors at $6.50 per share. Guilford originally intended to offer 1.8 mil. shares but increased the offering in response to greater demand. Oppenheimer & Co. was the placement agent for the offering. Guilford will use the proceeds to complete the commercialization of its Gliadel implant for brain cancer and for earlier-stage products for brain cancer and nerve degeneration...
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