NEW YORK (GenomeWeb News) — Transgenomic earlier this month said it hoped to pocket $937,500 in a private stock placement scheduled to close in February.
The company, which has been beset by financial challenges in recent months, said it would sell 250,000 shares of common stock of a company called Pinnacle Pharmaceuticals to New River Pharmaceuticals for $3.75 per share less certain liabilities, according to a Securities and Exchange Commission filing last week.

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