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MorphoSys Raises $20.6M in Stock Placement

NEW YORK, March 29 (GenomeWeb News) - MorphoSys has raised around17.1 million ($20.6 million) after placing 384,338 shares with international institutional investors, the company said today.

 

MorphoSys priced the shares at44.50 apiece. The issue was several times over-subscribed, the company said.

 

The company said the proceeds will enable it to raise its cash balance to approximately60 million. Additionally, the funding "allows us the flexibility to further expand the research antibody side of our business," CFO Dave Lemus said in a statement.

 

WestLB AG acted as lead manager of the transaction with DZ BANK as co-lead manager.

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