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CAMBRIDGE NEUROSCIENCE, INC. SELLS 1.5 MILLION SHARES OF COMMON STOCK

CAMBRIDGE NEUROSCIENCE, INC. SELLS 1.5 MILLION SHARES OF COMMON STOCK
 CAMBRIDGE, Mass., Nov. 8 /PRNewswire/ -- Cambridge NeuroScience, Inc. (NASDAQ: CNSI) announced today that it has sold 1.5 million shares of common stock at $12.25 per share. Smith Barney, Harris Upham & Co., and Montgomery Securities were the underwriters for the offering.
 Cambridge NeuroScience intends to use the net proceeds of the offering to fund the company's research and product development activities. After the offering is complete, Cambridge NeuroScience will have 8,402,541 shares outstanding.
 Cambridge NeuroScience, Inc. is a leading neuroscience company engaged in the discovery and development of proprietary pharmaceutical products to treat a variety of severe neurological and psychiatric disorders. The company's product development efforts are focused in three areas: neuroprotective compounds for the treatment of acute neurological disorders such as stroke and traumatic brain injury; novel antipsychotic compounds for the treatment of mental illnesses such as schizophrenia; and growth factors for the treatment of neurodegenerative diseases.
 -0- 11/8/91
 /CONTACT: Philip Holberton, chief financial officer of Cambridge NeuroScience, 617-225-0600 or Marcia A. Kean of Feinstein Partners, 617-577-8110, for Cambridge NeuroScience/
 (CNSI) CO: Cambridge NeuroScience ST: Massachusetts IN: MTC SU: KM-SH -- NE003 -- 2479 11/08/91 08:50 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 8, 1991
Words:205
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