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ARTICLE | Financial News

VBL raises $24M after boost from ovarian cancer data

June 8, 2016 1:06 AM UTC

VBL Therapeutics Ltd. (NASDAQ:VBLT) raised $24 million on Tuesday through the sale of 4.4 million shares at $5.50 in a registered direct offering with institutional investors. The Rodman & Renshaw unit of H.C. Wainwright was the placement agent.

The price is a 20% discount to VBL's closing price Monday of $6.85. On Monday, VBL's shares jumped 73% after it said a therapeutic dose of its VB-111 significantly increased overall survival compared to a low dose in a Phase I/II trial to treat recurrent platinum-resistant ovarian cancer. Data were presented at the American Society of Clinical Oncology (ASCO) meeting. ...