As of April 1, 2005, 49,819,284 shares were outstanding!
EntreMed Announces Celgene Investment Friday April 1, 12:31 pm ET - Gross Proceeds Total $10.5 Million
ROCKVILLE, Md., April 1 /PRNewswire-FirstCall/ -- EntreMed, Inc. (Nasdaq: ENMD - News), a clinical-stage pharmaceutical company developing therapeutics for the treatment of cancer and inflammatory diseases, today announced that Celgene Corporation (Nasdaq: CELG - News) has exercised warrants to purchase 7 million shares of EntreMed common stock for gross cash consideration of $10.5 million.
As a result of the transaction, the number of EntreMed common shares outstanding increased from 42,819,284 to 49,819,284 shares. The warrants, exercised at $1.50 a share, were part of a December 2002 transaction in which EntreMed licensed its thalidomide analog program to Celgene.