Dyax Sale of Common Stock Could Yield $25 Million

Dyax Corp. has announced it will sell 6.3 million shares of its common stock to selected institutional and other investors at $4 per share. The net proceeds of the financing will be used for general corporate purposes, including funding Dyax's ongoing preclinical activities, clinical trials and operations, company officials say. The public Cambridge company is focused on advancing novel biotherapeutics for unmet medical needs, with an emphasis on cancer and inflammatory indications.

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