Navigation Links
Spherix Announces Closing of Registered Direct Offering of $2.77 Million in Common Stock and Warrants
Date:1/24/2011

BETHESDA, Md., Jan. 24, 2011 /PRNewswire/ -- Spherix Incorporated (Nasdaq: SPEX), an innovator in biotechnology for therapy in diabetes, metabolic syndrome and atherosclerosis; and providers of technical and regulatory consulting services to food, supplement, biotechnology and pharmaceutical companies, today announced the closing of previously reported agreements to sell $2.77 million of shares of its common stock and warrants to purchase shares of its common stock in a registered direct offering to institutional investors.  Spherix has issued an aggregate of 4,269,000 shares of common stock to the institutional investors together with warrants to purchase an additional 2,134,500 shares of common stock. The warrants have an exercise price of $0.80 per share, and are exercisable six months after issuance and terminate 60 months after the date of issuance.

The Company intends to use the net proceeds of approximately $2.6 million from the offering to continue the development of D-tagatose for diabetes and triglycerides, as well as for general corporate purposes.

"We are pleased to have effected this transaction, which will be helpful in funding our initial studies to investigate D-tagatose as a treatment for high triglycerides," commented Dr. Claire L. Kruger, Chief Executive Officer of Spherix. "In addition, these funds will provide us with additional runway as we seek a partner for the further development of the use of D-tagatose in the treatment of diabetes," Dr. Kruger added.

Rodman & Renshaw, LLC, a wholly-owned subsidiary of Rodman & Renshaw Capital Group, Inc., acted as the exclusive placement agent for the offering.

The common stock and warrants are being offered by Spherix pursuant to an effective registration statement on Form S-3 filed with the Securities and Exchange Commission (SEC). A prospectus supplement relating to the of
'/>"/>

SOURCE Spherix Incorporated
Copyright©2010 PR Newswire.
All rights reserved

Page: 1 2 3

Related biology technology :

1. Spherix Receives Nasdaq Letter Extending Minimum Bid Price Compliance Period
2. Spherix Transfers Stock Listing to Nasdaq Capital Market
3. Spherix Reports 3rd Quarter Earnings
4. Spherix Announces 2008 Financial Results
5. Spherix Recruiting New Independent Director to Regain NASDAQ Compliance
6. Spherix Incorporated Announces the Death of A. Paul Cox, Jr., Chairman of the Board
7. Spherix to Exhibit at the BIO 2009 International Convention
8. Spherix Regains Full NASDAQ Compliance
9. Spherix Announces Full-Scale Production of Pharmaceutical Tagatose
10. Spherix Announces Termination of Arla License Agreement
11. Spherix Reports Second Quarter 2009 Earnings
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/19/2014)... 19, 2014 /PRNewswire/ - iCo Therapeutics Inc. ("iCo" or ... results of its Oral Amphotericin B (Oral Amp ... study, conducted by ImmuneCarta®, the immune monitoring business ... effectiveness of Oral Amp B in reactivating latent ... despite intensive treatment with antiretroviral therapy. ...
(Date:8/18/2014)... (Aug. 18, 2014) -- A new therapy developed ... (USF) Morsani College of Medicine and Columbia University ... complications of interventional cardiovascular disease treatment. , ... the novel molecular therapy could selectively inhibit blood ... a medical procedure using a balloon catheter to ...
(Date:8/18/2014)...   Sterne, Kessler, Goldstein & Fox P.L.L.C. , ... DC , announced today that it has filed ... with the U.S. Patent and Trademark Office (USPTO) on ... Inc. (Nasdaq: BRLI).  These IPR petitions aim to nullify ... Inc. These patents have been asserted against GeneDx in ...
(Date:8/18/2014)... , August 18, 2014 ... by Transparency Market Research "Life Science Reagents Market(Products- ... Cytometry, Electrophoresis, Chromatography, In-Vitro Diagnostic Reagents and Others; ... Academic Institutions, Clinical Laboratories, and Forensic Laboratories)- Global ... 2013 - 2019", the global life science reagents ...
Breaking Biology Technology:iCo Therapeutics Announces Positive Oral Amphotericin B Study Results 2iCo Therapeutics Announces Positive Oral Amphotericin B Study Results 3Selective therapy may improve artery repair after interventional cardiovascular procedures 2Selective therapy may improve artery repair after interventional cardiovascular procedures 3Sterne Kessler Files 11 IPR Petitions On Behalf Of GeneDx, Inc., Subsidiary Of BioReference Laboratories, Inc. 2Sterne Kessler Files 11 IPR Petitions On Behalf Of GeneDx, Inc., Subsidiary Of BioReference Laboratories, Inc. 3Global Life Science Reagents Market Expected to Reach USD 25.7 Billion in 2019: Transparency Market Research 2Global Life Science Reagents Market Expected to Reach USD 25.7 Billion in 2019: Transparency Market Research 3Global Life Science Reagents Market Expected to Reach USD 25.7 Billion in 2019: Transparency Market Research 4Global Life Science Reagents Market Expected to Reach USD 25.7 Billion in 2019: Transparency Market Research 5
... Aug. 24, 2011 United Therapeutics Corporation (NASDAQ: ... of its FREEDOM-C(2) Phase 3 trial of treprostinil ... formulation of treprostinil, a stable synthetic form of ...  Preliminary analysis demonstrates that the trial did not ...
... Lake, N.Y. New research from the Trudeau Institute ... (LAIV), commonly known as FluMist, elicits protection. The ... Vaccine . The journal article is entitled "Live attenuated ... and was authored by Trudeau Institute scientist Dr. Laura ...
... Mich.---A delicate balance of atomic forces can be exploited ... attribute that,s important for many nanotech applications but hard ... The same type of forces are at work bringing ... supercluster structures in this research are in many ways ...
Cached Biology Technology:FREEDOM-C(2) Trial of Oral Treprostinil in Pulmonary Arterial Hypertension Does Not Meet Primary Endpoint 2FREEDOM-C(2) Trial of Oral Treprostinil in Pulmonary Arterial Hypertension Does Not Meet Primary Endpoint 3FREEDOM-C(2) Trial of Oral Treprostinil in Pulmonary Arterial Hypertension Does Not Meet Primary Endpoint 4Trudeau Institute announces a discovery in how FluMist elicits protection 2Engineers discover nanoscale balancing act that mirrors forces at work in living systems 2
(Date:8/19/2014)... release is available in German . ... inherently intermittent energy sources. If a large amount of electricity ... future, excess energy will have to be stored during productive ... existing storage capacities are far from adequate for the purpose. ... One important focus lies on battery systems that used to ...
(Date:8/19/2014)... It,s not a monkey. It,s not a lemur. It,s not ... the Philippine tarsier: a tiny, adorable and downright "cool" primate ... that Americans are familiar with," said Rafe Brown, curator-in-charge at ... eyes and ears; an extremely cute, furry body; a long ... expanded fingers and toe tips that look a bit like ...
(Date:8/19/2014)... purchased at retail seafood counters in 10 different ... expose consumers to unexpectedly high levels of mercury, ... present a fish of the same species, but ... mislabeling offense, according to new research by University ... of seafood is essential to allow consumers to ...
Breaking Biology News(10 mins):Asian inventions dominate energy storage systems 2Asian inventions dominate energy storage systems 3Philippine tarsier gets boost from Kansas research, and genetic proof of a new variety 2Philippine tarsier gets boost from Kansas research, and genetic proof of a new variety 3Seafood substitutions can expose consumers to unexpectedly high mercury 2Seafood substitutions can expose consumers to unexpectedly high mercury 3
... FL (May 21, 2010).The University of Miami (UM) has ... the Howard Hughes Medical Institute (HHMI) to strengthen the ... and Sciences, where the program resides, will use the ... from groups traditionally underrepresented in the sciences to pursue ...
... at the University of Oxford and Royal Holloway University of London ... Bt works best if applied to young plants and ... is published today (20 May) in the open-access journal PLoS ... Bacillus thuringiensis is a common method for controlling a ...
... -- At a recent Specialty Coffee Association of America ... to increase the overall quality and availability of specialty ... new effort, called the Global Coffee Quality Research Initiative ... coffee roasters and agricultural researchers in partnership with the ...
Cached Biology News:UM receives 5th consecutive Howard Hughes Medical Institute grant for science education 2Study uncovers optimal ecology of bioinsecticide 2New global coffee research initiative announced 2New global coffee research initiative announced 3
... DNA Engine Opticon 2 real-time PCR detection ... for fluorescence excitation (470-505 nm) and two ... 540-700 nm). The Opticon 2 system is ... which includes a thermal gradient feature. This ...
Fingerprinting II Informatix cluster analysis is an optional module that adds dendrogram and phylogenetic tree construction, cluster and group significance, and congruence of techniques functions to ...
... II Informatix dimensioning ... optional module that ... analysis, multidimensional scaling, ... MANOVA, and self-organizing ...
... Cell Lines ,High Quality, Functionally-Validated, Ion Channel ... known for having a critical role in ... a key function in pain, CNS and ... have been investigated in therapeutic areas, such ...
Biology Products: