ARTICLE | Financial News

Cadence, Micromet price follow-ons

November 12, 2010 12:59 AM UTC

Cadence Pharmaceuticals Inc. (NASDAQ:CADX) and Micromet Inc. (NASDAQ:MITI) each priced follow-ons on Thursday. Cadence raised $92 million through the sale of 11.5 million shares at $8 per share in an offering underwritten by Deutsche Bank; Leerink; JMP Securities, Wedbush; and Canaccord. The company proposed to raise $85 million on Monday, when its stock price was $8.04. This month, FDA approved Cadence's Ofirmev IV acetaminophen to treat pain and fever. Cadence plans to launch the product next quarter. Cadence was off $0.17 to $8.11 on Thursday. ...