• A.P. Pharma Inc., of Redwood City, Calif., filed a registration statement for a proposed public offering of up to $28.8 million in common stock. The company has not yet determined share price or the number of shares to be offered. Proceeds from the financing are expected to support clinical development of APF530, a Phase III-stage drug for chemotherapy-induced nausea and vomiting, as well as for development of other drug candidates, working capital, capital expenditures and other general corporate purposes. Merriman Curhan Ford & Co. will act as underwriter and book-running manager for the offering.

• Discovery Laboratories Inc., of Warrington, Pa., completed its previously announced direct offering of 14.1 million shares of common stock priced at $2.15 each for gross proceeds of $30.2 million. Net proceeds to the company are expected to total $28.2 million and will support activities related to the anticipated launch of Surfaxin for respiratory distress syndrome in premature infants. Funds also will be used for development of an aerosolized surfactant replacement therapy, additional trials of Surfaxin and manufacturing costs. Jefferies & Co. Inc. acted as lead placement agent, while Lazard Capital Markets LLC served as co-placement agent. (See BioWorld Today, April 4, 2007.)

• ReGen Biologics Inc., of Franklin Lakes, N.J., completed an additional $2.7 million private equity placement, which, when combined with placements in December 2006 and March 2007, brings the company's total fund raising to about $12.7 million. About $12.7 million more could be added upon exercise of options, expected upon FDA clearance of the company's collagen scaffold. Terms of the recent placement called for ReGen to sell 64.3 million shares of Series D preferred stock priced at $42 per share and to issue five-year warrants equal to 30 percent of the purchased shares for 19.3 million shares of Series D convertible preferred stock at an exercise price of $63 each. The placement was led by Ivy Capital Partners LLC.