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Clinical Data to Offer 3M Shares; Cash Will Fund Acquisitions, Other Expenses

NEW YORK (GenomeWeb News) — Clinical Data plans to offer 3 million shares of its common stock through an underwritten public offering, the company said yesterday.
Clinical Data will use the proceeds from the offering to fund clinical trials, preclinical R&D for corporate purposes such as acquisitions, capital expenses, and working capital.
Chairman Randal Kirk, Clinical Data's largest stockholder, plans to buy around $50 million worth of the common stock, “depending ultimately on the size of the offering,” the company said.
The company said that by acquiring these additional shares, Kirk “will maintain, at a minimum,” his current 40-percent ownership in Clinical Data. 
Clinical Data has also granted sole underwriter Bear Stearns & Co. a 30-day option to buy as much as an additional 450,000 shares of common stock to cover over-allotments.

The Scan

And Back

The New York Times reports that missing SARS-CoV-2 genome sequences are back in a different database.

Lacks Family Hires Attorney

A lawyer for the family of Henrietta Lacks plans to seek compensation from pharmaceutical companies that have used her cancer cells in product development, the Baltimore Sun reports.

For the Unknown

The Associated Press reports that family members are calling on the US military to use new DNA analysis techniques to identify unknown sailors and Marines who were on the USS Arizona.

PLOS Papers on Congenital Heart Disease, COVID-19 Infection Host MicroRNAs, Multiple Malformation Mutations

In PLOS this week: new genes linked to congenital heart disease, microRNAs with altered expression in COVID-19, and more.