CAMBRIDGE NEUROSCIENCE, INC. SELLS 225,000 ADDITIONAL SHARES OF COMMON STOCK
CAMBRIDGE NEUROSCIENCE, INC. SELLS
225,000 ADDITIONAL SHARES OF COMMON STOCK
CAMBRIDGE, Mass., Nov. 13 /PRNewswire/ -- Cambridge NeuroScience, Inc. (NASDAQ: CNSI) announced today that its underwriters have exercised an over-allotment option to purchase an additional 225,000 shares of common stock in connection with the previously announced public offering of 1.5 million shares of CNSI stock.
Common stock outstanding after the offering (including the exercise of the over-allotment option) will be 8,616,791.
Smith Barney, Harris Upham & Co., and Montgomery Securities were the underwriters for the offering.
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.
/CONTACT: Philip V. Holberton, chief financial officer of Cambridge NeuroScience, Inc., 617-225-0600 or Marcia A. Kean of Feinstein Partners Inc. for Cambridge NeuroScience, 617-577-8110/
(CNSI) CO: Cambridge NeuroScience, Inc. ST: Massachusetts IN: MTC SU: PB-KM -- NE008 -- 3959 11/13/91 12:46 EST