ARTICLE | Financial News

Flamel raises $105.3 million in follow-on

March 8, 2014 12:43 AM UTC

Drug delivery play Flamel Technologies S.A. (NASDAQ:FLML) raised $105.3 million through the sale of 10.8 million ADSs at $9.75 in a follow-on underwritten by JMP Securities; SunTrust; Ladenburg Thalmann; Roth Capital Partners; and Summer Street Research Partners. Each ADS represents one share. Flamel proposed the offering late Thursday, when its share price was $10.71.

The company's drug delivery technologies allow for the controlled release of oral drugs, oral liquid drugs, injectable biologics and small molecules, as well as tamper-resistant formulations. Flamel markets Bloxiverz neostigmine methylsulfate in the U.S. to reverse the effects of non-depolarizing neuromuscular blocking agents after surgery. ...