Biostar Pharmaceuticals Inc., of Xianyang, China, said it entered a securities purchase agreement with institutional investors for the sale of 1.65 million shares of common stock in a registered direct offering at the price of $2.49 per share. In addition, warrants to purchase 660,000 shares of common stock will be issued to the investors. The warrants will be exercisable immediately upon issuance at an exercise price of $3.23 per share and expire in three years. Gross proceeds are expected to be approximately $4.1 million.

Egalet Corp., of Wayne, Pa., said the underwriters of its initial public offering (IPO) have exercised their option to purchase 630,000 shares of common stock at the IPO price of $12 per share to cover overallotments.

Immune Pharmaceuticals Inc., of Herzliya, Israel, said it entered into a definitive agreement with investors for the sale of $11.7 million of preferred stock and warrants in a private placement transaction expected to result in approximately $11 million in net proceeds, which will be allocated in priority to the bertilimumab phase II proof-of-concept trials in ulcerative colitis and in bullous pemphigoid, an orphan auto-immune dermatological indication and for general corporate and working capital purposes.