Synthetic Biologics raises $10.8 million

Synthetic Biologics Inc. (NYSE-M:SYN) raised about $10.8 million on Wednesday through the sale of about 6.8 million shares at $1.60 in a private placement to new and existing investors. The price is a 31% discount to Synthetic Biologics' close of $2.33 on Friday, before the offering was announced. Griffin Securities was placement agent. The company gained $0.10 to $2.43 on Wednesday. ...