Boston, MA 02/12/2014 (wallstreetpr) – OXiGENE, Inc. (NASADAQ:OXGN) which is a clinical stage biopharmaceutical company that develops therapeutics to treat cancer has announced that after consultation with its investors it has decided to purchase an aggregate of $12 million of units in a registered public offering. The public offering will be carried at a price tag of $2.05 per share.
Terms of the OXiGENE proposed IPO
Each unit under the proposed IPO terms will be made of one share of common stock and 0.5 of a warrant for purchasing a share of Common stock. The warrants will command an exercise price tag of $2.75 per share with an expiry date of 5 years from the date of purchase. The closing date for the offering has been set not later than February 18, 2014 subject to full satisfaction of customary closing conditions as required by law.
HC Wainwright &Co LLC will act as the sole book running for the IPO with the securities being offered in pursuant of the registration statement (File No. 333-190464) which became effective as of February 11, 2014.The registration statement was filed in pursuant of rule 462 (b) which became legal as of February 12, 2014.
About OXiGENE
OXiGENE specializes in the development of therapeutics that are mostly used in the treatment of cancer focusing more in the development of Vascular disrupting agents (VDA’s) that are used to disrupt abnormal blood vessels that are known to cause solid tumor progression.
OXiGENE has rattled itself and became one on of the most enticing and interesting pipeline worth investment by any want to be investor in the company. The company mainly develops cancer drugs that are becoming a hit in the market with the increased cases of different types ofcancer.
The company stock in the past years especially 2010 was highly hit by the economic turmoil and was not performing to desired levels. Things have been changing in the recent past, the company has started to make higher lows and has essentially started to move above its average line.
Given its current condition in the market the company stock looks set to improve in the coming years. Taking into consideration the progress that has been seen so far then it would be upright to say its odds are good and should keep OXiGENE, Inc. (NASADAQ: OXGN) rolling.
