Health and Healthcare
Regenerx Looks To Boost Liquidity Via Offering (RGN)
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REGENERX BIOPHARMACEUTICALS, INC. (AMEX: RGN) filed for a secondary offering late yesterday to sell some $60 million in a secondary offering of stock and warrants.
Its fully diluted market cap on last look was $92.8 million. As of April 30, 2008, the aggregate market value of its outstanding common stock held by non-affiliates was approximately $48,048,508, based on 51,553,527 shares of outstanding common stock. Approximately 27,456,290 shares are held by non-affiliates, and a price of $1.75 based on the closing sale price of the common stock on April 30, 2008.
This biotech is focused on the discovery and development of novel molecules to promote tissue and organ repair. The company intends to use the net proceeds from the sale of securities to further develop its clinical trials and for general corporate purposes.
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Jon C. Ogg
May 7, 2008
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