By Sheri Kasprzak
New York, Feb. 7 - Callisto Pharmaceuticals, Inc. said it completed a private placement for $5.16 million.
The company issued 4.3 million shares at $1.20 each to institutional biotechnology investors.
The investors received warrants for 1.07 million shares, exercisable at $1.60 each for 18 months.
Proceeds will be used for the clinical development activities, as well as pre-clinical development activities.
New York-based Callisto develops treatments for cancer.
| Issuer: | Callisto Pharmaceuticals, Inc.
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| Issue: | Stock
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| Amount: | $5.16 million
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| Shares: | 4.3 million
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| Price: | $1.20
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| Warrants: | For 1.07 million shares
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| Warrant expiration: | 18 months
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| Warrant strike price: | $1.60
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| Settlement date: | Feb. 3
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| Stock symbol: | AMEX: KAL
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| Stock price: | $1.53 at close Feb. 3
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