Neoprobe Corp. registered to sell 1.75 million shares in a follow-onoffering expected to raise about $35 million.
Montgomery Securities, of San Francisco, and Raymond James &Associates, of St. Petersburg, Fla., are managing the offering.Neoprobe, of Dublin, Ohio, reported having about $18.6 million incash on Dec. 31, 1995, and has about 17.3 million sharesoutstanding. The company's net loss has been about $10 million eachof the past two years.
Neoprobe (NASDAQ:NEOP) filed a registration statement Monday.Its stock was up 50 cents Wednesday at $19.75.
The company has completed Phase III trials of itsradioimmunoguided surgery (RIGS) technology for detection ofmetastatic colorectal cancer. Enrollment is still open in pivotalstudies involving primary disease.
Neoprobe has said it plans to submit a dossier to European regulatoryauthorities in the second quarter of this year and a product licenseapplication to the FDA in the third quarter. Both would be for thelead colorectal cancer diagnostic, RIGScan CR49, which consists ofa hand-held radiation detection probe and a radiolabeled cancertargeting agent.
In financings last year, Neoprobe sold 575,000 shares in Septemberto Quantum Partners LDC, of New York, at $10.50 per share, and inJuly completed a public offering of 1.65 million shares at $5.50 each._ Jim Shrine
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