COLLAGENEX PHARMACEUTICALS TO SELL $29 MILLION OF REGISTERED COMMON STOCK

CollaGenex Pharmaceuticals, Inc. today announced that it has entered into definitive agreements with institutional and other investors to sell 2.9 million shares of common stock for an aggregate purchase price of $29 million. The sale price of $10.00 per share represents a 0.2% discount to the 30-day average closing price of $10.02. The transaction will close in two tranches, the second of which will be in early January.

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