Pharmacopeia (PCOP) Announces $25 Million Common Stock Offering
Pharmacopeia (Nasdaq: PCOP) announced that it has agreed to the sale of its common stock and warrants in an underwritten offering for aggregate proceeds of approximately $25 million.
Under the terms of the financing, Pharmacopeia will sell approximately 5.8 million shares of newly issued common stock at a price of $4.28 per share to certain institutional investors.
Pharmacopeia intends to use net proceeds from the financing for general corporate purposes, which may include expenditures related to Pharmacopeia's development and discovery programs and increasing its working capital.
Under the terms of the financing, Pharmacopeia will sell approximately 5.8 million shares of newly issued common stock at a price of $4.28 per share to certain institutional investors.
Pharmacopeia intends to use net proceeds from the financing for general corporate purposes, which may include expenditures related to Pharmacopeia's development and discovery programs and increasing its working capital.
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