Arrowhead Research, the parent firm of Calando Pharmaceuticals, announced last week that it has signed agreements to sell at least $2 million in stock and warrants to certain institutional and accredited investors.
Under the terms of the arrangements, the company will sell at least 7.1 million units, which each unit comprising one share of common stock and a warrant to purchase an additional share at $0.50, at $0.30 per unit.
The offering is expected to close this week.