The whole article would not post, but even after issuing more shares (diluting) CPXX is now going to be bought out by JAZZ for $30+. , and if you look at the articles after the stock rocketed from $1.68 to the $10 area you will see just as here the stock was getting bashed on the message board and by the article writers.....similar to here................THEN JAZZ comes along and is now in the process of buying the company for $30 plus. It's easier to scare people out of their stock than it is to convince them to buy it, especially if they have profits in it, then the rest just follow along like sheep. This is all a game, been going on for hundreds of years. Ever been sorry you sold ?
EWING, N.J., March 29, 2016 /PRNewswire/ -- Celator Pharmaceuticals, Inc. (CPXX), a pharmaceutical company developing new and more effective therapies to treat cancer, today closed its previously announced underwritten public offering of 4,600,000 shares of the Company's common stock, including 600,000 shares of common stock issued pursuant to the underwriters' exercise of their option, at the public offering price of $9.50 per share. The gross proceeds of this offering were $43.7 million. Net proceeds to the Company, after deducting the underwriters' discounts and commission and other estimated offering expenses payable by the Company, were approximately $40.6 million
The Company intends to use the net proceeds received from the sale of the common stock to fund regulatory, manufacturing, commercial and clinical activities for VYXEOS™ and general corporate purposes, including working capital.
Stifel acted as the sole bookrunning manager for the offering. Needham & Company, acted as the lead manager, and Roth Capital Partners, H.C. Wainwright & Co. and National Securities Corporation acted as co-managers for the offering. MTS Health Partners, L.P. served as financial advisor to Celator for the offering.
The shares of common stock were offered by Celator pursuant to a shelf registration statement previously filed with and declared effective by the Securities and Exchange Commission (the "SEC") on February 12, 2