Bio-Technology General Corp. announced Tuesday it hasreceived $2.4 million resulting from the exercise of warrantsheld by David Blech, a major investor and a director of the NewYork-based company.
These warrants were issued to Blech in February 1990 inconnection with a private placement of stock and warrants thatgenerated $3.1 million for the company at that time.
During 1992, the company received an additional $2.4 millionfrom the exercise of warrants held by other investors andissued in the company's May and July 1991 privateplacements.
The company's stock (NASDAQ:BTGC) closed Tuesday at $5.50 ashare, down 13 cents.
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