Cadence (CADX) Completes 21.8M Common Offering at $3.75/Share

Cadence Pharmaceuticals, Inc. (Nasdaq: CADX) today announced the closing of its previously announced public offering of 21,800,000 shares of its common stock, including 2,800,000 shares sold pursuant to the full exercise of an over-allotment option previously granted to the underwriters, at a public offering price of $3.75 per share. The net proceeds from the offering, after deducting the underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $77.4 million.

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