Oncology Venture A/S, of Horsholm, Denmark, called upon the first tranche of SEK10 million (US$982,236) under the terms from the financing agreement communicated on March 31. The transaction is carried out through a private placement of convertible notes. The agreement allows Oncology to request up to a total of SEK100 million.
Phio Pharmaceuticals Corp., of Marlborough, Mass., closed its registered direct offering of about 1.7 million shares of common stock, at a purchase price of about $2.33 per share, for gross proceeds of about $4 million priced at-the-market under Nasdaq rules. Phio has also issued to the investors unregistered warrants to purchase up to about 1.7 million more shares. H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.
Vivus Inc., of Campbell, Calif., completed its registered direct offering of about 7.2 million shares at $1.60 per share for gross proceeds of $11.55 million. Net proceeds will be used for working capital, general corporate purposes, research and development and satisfaction of corporate debts. H.C. Wainwright & Co. acted as the exclusive placement agent.