Monday, February 28, 2011
Chelsea Therapeutics International Ltd., of Charlotte, N.C., completed its public offering of common stock. The company said that underwriters exercised their option to purchase approximately 1.3 million additional shares to cover overallotments, increasing net proceeds to $37.8 million. Chelsea intends to use the proceeds to fund its droxidopa programs, including commercialization and marketing activity for Northera (droxidopa), to fund its study of CH-4051 for the treatment of rheumatoid arthritis, to fund development of its other product candidates and for general corporate purposes.
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