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Feb 15, 2008

Investors Commit $49.3M to Cadence Pharmaceuticals

  • Cadence Pharmaceuticals could raise up to $49.34 million through a registered stock offering to private investors. The transaction is expected to close on February 20.

    According to the shelf registration statement, private backers will purchase up to 9,240,307 shares of the company’s common stock at $5.34 per share, yesterday’s closing price.

    The total number of shares to be sold in the offering may be reduced to 8,056,716 under NASDAQ rules. Gross proceeds may thus go down to $43.0 million.



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Scientifically Studying Ecstasy

MDMA (commonly known as the empathogen “ecstasy”) is classified as a Schedule 1 drug, which is reserved for compounds with no accepted medical use and a high abuse potential. Two researchers from Stanford, however, call for a rigorous scientific exploration of MDMA's effects to identify precisely how the drug works, the data from which could be used to develop therapeutic compounds.

Do you agree that ecstasy should be studied for its potential therapeutic benefits?

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