Mar 21, 2014, 1:15pm CDT
GenSpera registers for public offering
http://www.bizjournals.com/sanantonio/blog/2014/03/genspera-registers-for-public-offering.html
Biotech firm GenSpera has filed with the SEC for a future public offering.
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GenSpera Inc. has filed a registration with the U.S. Securities and Exchange Commission for a public offering.
The filing does not specify how many shares of stock the San Antonio-based biotech company plans to offer or at what price.
It does indicate that GenSpera (GNSZ: OTC) intends to use the proceeds from the sale of stock to fund Phase II clinical trials of its lead drug G-202 in patients with liver and brain cancer. The company also plans to dedicate a portion of those proceeds for working capital.
GenSpera, which is still in the research-and-development phase for its lead drug, reported a net loss of $2 million in the fourth quarter of 2013.
On Tuesday, I reported that GenSpera has launched a Phase II clinical trial for G-202 with patients who have glioblastoma multiforme, the most prevalent type of primary brain cancer. The trial will be conducted at the University of California at San Diego’s Moores Cancer Center.