logo
  Join        Login             Stock Quote

Celsion (CLSN) Discloses Stock Sales Agreement With Cantor Fitzgerald

 February 04, 2013 01:16 PM
 


(By Balachander) Celsion Corp. (NASDAQ: CLSN) shares tumbled more than 10 percent on Monday after the oncology drug development company disclosed that it has entered into an agreement with Cantor Fitzgerald & Co to sell $25 million worth of shares.

Under the agreement, the company said on Friday it may offer and sell through Cantor shares of common stock having an aggregate offering price of up to $25.0 million.

The Lawrenceville, New Jersey-based company said it plans to use the net proceeds for research and development activities, capital expenditures and working capital.

Pending the application of the net proceeds, Celsion said it intends to invest the net proceeds in short-term, investment grade, interest-bearing securities.

[Related -Celsion (CLSN) Downgraded To 'Sell' By Brean Capital On Share Runup Prior To Binary Event]

Last Thursday, the company's stock tumbled by more than 80 percent after a late-stage study of Celsion's lead liver cancer candidate ThermoDox did not meet its primary endpoint.

Celsion is working to develop and commercialize more efficient and effective targeted chemotherapeutic oncology drugs based on our proprietary heat-activated liposomal technology.

The company projects its unaudited cash and investment balance to be roughly $23 million as of December 31, 2012 and around $27 million as of January 31, 2013.

[Related -Celsion Corp. (CLSN): A Buy Write The Way To Go With Data Pending?]

CLSN shares have been trading in the 52-week range between $1.13 and $9.44.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageBuffett's Market Indicator Flashes Red, Prepare To Sell

With each passing month, it's becoming evident that the current bull market has slowed from a gallop to a read on...

article imagePBoC joins other major central banks with unconventional monetary policy action

Softer than expected economic growth in China (see discussion) has finally spurred the PBoC into action. read on...

article imageA Buyback Boost?

Are stock buybacks the only thing keeping this bull market read on...

article imageGold Slides On Perfect Storm For Dollar

For all the anticipation surrounding the delivery of the Fed’s statement in the run-up to the September read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.