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Jul 30, 2008

Marshall Edwards Pockets $10M in Public Offering

  • Marshall Edwards secured $10 million through a securities subscription agreement with Novogen and OppenheimerFunds. Novogen, which is the parent company, in turn raised A$5.50 million, or $5.18 million, in an equity issue to take part in Marshall Edwards’ financing.

    El Coronado Holdings, which is already a Novogen shareholder, paid A$1.22 per Novogen share. Following this placement El Coronado will hold 19.9% of Novogen's issued stock.

    Marshall Edwards sold 2,908,295 shares to Novogen and 1,700,000 shares to Oppenheimer for $2.17 per share. The firm is focusing on the development of anticancer therapeutics derived from a flavonoid platform. Its lead investigational drug, phenoxodiol, is in a Phase III multinational trial for patients with recurrent ovarian cancer.


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One theory for explaining “success," put forward by Amy Chua Jed Rubenfeld, posits cultural traits such as a superiority complex, personal insecurity and impulse control. Union College professors Joshua Hart and Christopher Chabris counter that intelligence, conscientiousness, and economic advantage are the most likely elements of success, regardless of ethnicity. Do you think that Hart-Chabris make a better argument for achieving success than the Chua-Rubenfeld theory?

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