SAN DIEGO (AFX) - Drug developer Hollis-Eden Pharmaceuticals Inc. said Friday it plans to offer up to $75 million in stock, warrants or other securities.
The company said it filed a shelf registration statement with the Securities and Exchange Commission for the offering, but it has not yet become effective.
In the filing, the company said it plans to use the offering's proceeds for research and development and general corporate purposes, as well as possible acquisitions or investments.
Company shares closed up 11 cents, or 2.2 percent, at $5.15 on the Nasdaq. The stock has ranged between $4.44 and $11.17 over the past 52 weeks.
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