Biopure launches follow-on offering of 8.8 million shares via Dawson James, Noble

By Ronda Fears

Nashville, Dec. 1 - Biopure Corp. launched after Thursday's close a follow-on offering of 8.8 million shares of its common stock and warrants to purchase 8.8 million additional shares.

Dawson James Securities, Inc. and Noble International Investments, Inc. are the managing underwriters of the offering.

There is a greenshoe of 1.32 million shares and 1.32 million warrants available.

Cambridge, Mass.-based Biopure said it plans to use proceeds for general corporate and working capital purposes.

Biopure develops, manufactures and markets pharmaceuticals referred to as oxygen therapeutics that are intravenously administered to deliver oxygen to the body's tissues.

On Thursday, Biopure shares ended off 2 cents, or 2%, at $0.98.

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