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EntreMed, Inc. Message Board

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  • semiequipmentgodoftheyear semiequipmentgodoftheyear Jun 16, 2005 10:23 AM Flag

    Chief what do the sticks say now?

    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.

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