Marina Biotech (NASDAQ: [[ticker:MRNA]]) said today it has raised $5.1 million in a new securities offering. The company sold about 6.4 million units at 80 cents apiece. Each unit was composed of one share and 0.1746 warrants to buy future shares. The Bothell, WA-based company said it plans to use the money to run a clinical trial of a drug candidate for Familial Adenomatous Polyposis (FAP). Roth Capital Partners managed the transaction.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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