A special meeting of NeoRx Corp. shareholders has approved anincrease in the companyLs common stock to 60 million from 30million shares. The decision allows NeoRx (NASDAQ:NERX) tocomplete a previously announced $10 million privateplacement from New York investor David Blech.
BlechLs initial purchase of 10 million shares would bring thenumber of NeoRx shares outstanding to 25.7 million, givingBlech 39 percent of shares outstanding. The deal includeswarrants to purchase additional shares.
Stock of the Seattle-based developer of products to detect andtreat cancer closed at $3.56 Thursday, up 31 cents.
(c) 1997 American Health Consultants. All rights reserved.