Mast Therapeutics arranges $30 million at-the-market stock offering

Cowen is the agent; proceeds slated for general corporate purposes

By Devika Patel

Knoxville, Tenn., Feb. 10 - Mast Therapeutics, Inc. plans a $30 million at-the-market offering of common stock, according to a prospectus supplement filed Monday with the Securities and Exchange Commission.

Cowen and Co., LLC is the agent and will be paid a 3% commission.

Proceeds will be used for working capital and general corporate purposes, including research and product development activities, nonclinical and clinical trials, general and administrative expenses and acquisitions of companies, businesses or assets.

The biopharmaceutical company is based in San Diego.

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