San Diego Business Journal

Mast Therapeutics Announces Public Offering of 50 Million Units

Wednesday, June 19, 2013

San Diego’s Mast Therapeutics Inc. recently announced it expects to receive net proceeds of about $23 million from a new underwritten public offering.

It is offering 50 million units, priced at $0.50 apiece.

The company said it plans to use the funds for its phase 3 clinical study of a drug called MST-188 for treating sickle cell anemia.

The $20.5 million market cap company was trading at $0.44 at market close on June 18.

— SDBJ Staff Report