Nexell Therapeutics Plans Stock Sale
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Nexell Therapeutics Inc., an Irvine biotechnology company, filed a report with the Securities and Exchange Commission to sell $25 million in common stock.
The filing allows the company to register the securities in advance and sell them when market conditions are favorable or when needs arise. Terms of the securities are usually announced at the time of the sale.
The company said it plans to use the net proceeds for research and development, to provide working capital and for possible acquisitions.
The company’s stock fell 34 cents to $3.25 Thursday in Nasdaq trading.
Nexell develops cell therapies for cancer and other diseases.
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