Novelos Therapeutics to raise $5.9M as it advances cancer-targeted compounds
This article was originally published in Scrip
Executive Summary
Novelos Therapeutics, a US company which is developing novel drugs for the treatment and diagnosis of cancer, said it will sell 9.8 million units at $0.60 per unit in an offering underwritten by Rodman & Renshaw. Each unit consists of one share of common stock and a warrant to purchase one share of stock, with warrants having an exercise price or $0.60 and a five-year term.