PROLOR Biotech Inc. is in the StockGuru Spotlight for March 19, 2010
Written by Editor on March 19, 2010
DALLAS, TEXAS : StockGuru announces that PROLOR Biotech Inc. (OTCBB: PBTH) is in the StockGuru Spotlight. PROLOR Biotech, Inc. is a biopharmaceutical company applying unique technologies, including its patented CTP technology, primarily to develop longer-acting, biobetter, proprietary versions of already approved therapeutic proteins that currently generate billions of dollars in annual global sales. The CTP technology is applicable to virtually all proteins and PROLOR is currently developing long-acting versions of human growth hormone, which is in clinical development, and interferon beta, factor VII, factor IX and erythropoietin, which are in preclinical development, as well as GLP-1 and other therapeutic peptides.
On Thursday, the company put out news announcing that the company has raised $24.4 million in a private placement of 10,382,975 shares of its common stock, par value $0.00001 per share, to accredited investors at a price of $2.35 per share, which represents an approximate 17% discount to the average closing price of the common stock for the 30-day period prior to closing. The shares have not been registered and no registration rights have been granted to investors for these shares. In addition, the shares are subject to a one-year lockup agreement.
Shares for PROLOR Biotech Inc. (OTCBB: PBTH) were down during the late afternoon of trading on Thursday and closed down three cents at closing.
To view our StockGuru Spotlight on PROLOR Biotech Inc. (OTCBB: PBTH), please visit:
http://www.stockguru.com
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