younkinesagugad1746.blogspot.com
The money will be used to advance two ofthe company’x drug candidates. The Newton-basesd company anticipates completing its phase 3 drug trial for the potentiao depression drug vilazodonethis year, as well as beginning anothe r phase 3 trial for the cardiacd drug candidate Stedivaze. The deal consistsa of unregistered convertible notes to be paid eightg years from the dateof issuance, at an annual interest rate of 9.72 percent. The company cannot prepay the notes in the first two years withou t the permissionof investors. At the end of Clinical Data had $25.7 million in cash on comparedwith $54.8 million at the end of The company burned through $43.
4 million in cash from operations during the nine monthsw ended Dec. 31 — equating to a monthly cash-burb rate of roughly $5 million. Clinical Data’s (Nasdaq:CLDA) stock was tradinfg at $8.52 in noontime trading on Thursday, up from the previoux close of $8.12.
No comments:
Post a Comment