Friday, July 24, 2009

OncoGenex Pharmaceuticals Raises $9.5M

Bothell-based OncoGenex Pharmaceuticals, a developer of cancer treatments, announced this morning that it has raised $9.5M in a registered direct offering to institutional investors. The publicly held firm, which trades as OGXI on the Nasdaq, did not detail the names of those investors, only saying that it sold 475,000 shares of its common stock to them at $20.00 per share. The firm said the funding will go towards manufacturing readiness activities and general corporate purposes.