Printer Friendly

NOVA PHARMACEUTICAL UNDERWRITERS EXERCISE OVER-ALLOTMENT OPTION

 NOVA PHARMACEUTICAL UNDERWRITERS EXERCISE OVER-ALLOTMENT OPTION
 BALTIMORE, Feb. 10 /PRNewswire/ -- Nova Pharmaceutical Corporation (NASDAQ: NOVX) today announced that Tucker Anthony Incorporated, as representative of the underwriters of Nova's recently completed public offering, exercised their over-allotment option to purchase an additional 600,000 shares of Nova common stock. This brings the total number of shares sold in the offering to 4.6 million shares.
 The underwriters' over-allotment option was included in its underwriting of the 4 million share offering by Nova, completed on Jan. 28, 1992. The shares were sold at $8.50 per share, providing additional net proceeds to Nova of approximately $4.8 million, and total net proceeds to Nova of $33.2 million. Net proceeds of the offering will be used to finance the continued research and development, including clinical trials, of the company's planned therapeutic products.
 Nova is engaged in the discovery, development, and commercialization of pharmaceutical products which address areas of significant medical need. The company's research and development programs are in three principal areas: inflammation, central nervous system disorders, and drug delivery systems. The company's scientific strategy is to employ the tools of receptor technology, rational drug design, and drug delivery technologies to develop novel therapeutic products.
 -0- 2/10/92
 /CONTACT: Kira Bacon of Nova Pharmaceutical, 410-558-9465, or Noonan/Russo Communications, 212-979-9180, for Nova Pharmaceutical/
 (NOVX) CO: Nova Pharmaceutical Corporation ST: Maryland IN: MTC SU:


JT-OS -- NY020 -- 8146 02/10/92 09:20 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 10, 1992
Words:240
Previous Article:ADT NOTIFIED OF INTEREST BY EQUITABLE CAPITAL
Next Article:THERMO ELECTRON BEGINS CONSTRUCTION OF SAN DIEGO RECYCLING FACILITY; RESOURCE RECOVERY FACILITY BELIEVED TO BE AMONG NATION'S LARGEST
Topics:


Related Articles
NOVA PHARMACEUTICAL FILES REGISTRATION STATEMENT FOR COMMON STOCK OFFERING
UNDERWRITERS' OPTION EXERCISED IN ARAMED UNIT OFFERING AND GENSIA COMMON STOCK OFFERING
AFFYMAX ANNOUNCES UNDERWRITERS HAVE EXERCISED OVER-ALLOTMENT OPTION OF 600,000 SHARES
IMMULOGIC PHARMACEUTICAL SELLS 133,000 SHARES THROUGH EXERCISE OF OVER-ALLOTMENT
NOVA PHARMACEUTICAL ANNOUNCES SALE OF COMMON STOCK
GUILFORD PHARMACEUTICALS SELLS 300,000 ADDITIONAL SHARES PURSUANT TO OVER-ALLOTMENT OPTION EXERCISED BY UNDERWRITERS
ALEXION ANNOUNCES EXERCISE OF OVERALLOTMENT OPTION BY UNDERWRITERS
GELTEX PHARMACEUTICALS RAISES ADDITIONAL $8.5 MILLION THROUGH EXERCISE OF OVER-ALLOTMENT OPTION
EXERCISE OF OVERALLOTMENT YIELDS ADDITIONAL $4.5 MILLION FOR ARONEX PHARMACEUTICALS, INC.
Triangle Pharmaceuticals, Inc. Raises Additional $3,326,520 Through Exercise of Over-Allotment Option

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters