Apricus suspends $20 million at-the-market equity sales agreement

Ascendiant Capital is broker for controlled equity offering agreement

By Devika Patel

Knoxville, Tenn., April 26 - Apricus Biosciences, Inc. suspended sales under a $20 million at-the-market controlled equity offering agreement with Ascendiant Capital Markets, LLC on Feb. 14, according to an 8-K filed Thursday with the Securities and Exchange Commission. The offering was negotiated on Dec. 30.

The suspension of the agreement was required under the terms of the company's recent public financing agreements and is also based on the company's relatively high cash position resulting from the public financing and recently signed commercial partnerships, the filing said.

The company expects the suspension to last at least 120 days.

Apricus is a pharmaceutical research and development company based in East Windsor, N.J.

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