Encysive raises $31 million

ENCY raised $31 million through the sale of 4 million shares at $7.76 in a follow-on underwritten by Wachovia. The deal has a 600,000 share overallotment. The company said some of the proceeds will be used to develop and commercialize Thelin sitaxsentan, an oral endothelin A receptor antagonist in Phase III testing for pulmonary arterial hypertension (PAH). ...