FDAnews Drug Daily Bulletin

JAVELIN PHARMACEUTICALS CLOSES $32 MILLION PLACEMENT

Nov. 9, 2005
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avelin Pharmaceuticals Inc. (JVPH.OB) is pleased to announce that yesterday it closed its previously announced private placement, having issued and sold an aggregate of 14,222,215 shares of Common Stock at a price of $2.25 per share, and warrants for the purchase of 711,111 shares of Common Stock for gross proceeds of $31,999,984. The warrants are exercisable for five years at an exercise price of $2.25 per share. As a result of the placement, 40,404,976 shares of Common Stock are issued and outstanding.
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