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Financings Roundup

Bionovo Public Offering to Raise $30M for Phase III Trial

By Catherine Shaffer

Monday, January 31, 2011
Bionovo Inc. priced a public offering of 30,031,200 units at $1 each for gross proceeds of $30 million. Each unit is comprised of one share of common stock (NASDAQ:BNVI) and a warrant to purchase a one-half share of common stock at $1.30 per share. The funds will be primarily funneled into Phase III development of its lead product, Menerba, for postmenopausal vasomotor symptoms, or hot flashes.

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