A Luxembourg-based company has purchased an additional 55,224 shares of Durham-based Argos Therapeutics Inc. common stock and now owns more than 13 million shares.
Pharmstandard International, a subsidiary of Russian pharmaceutical company Pharmstandard, purchased the additional shares at an average price of $4.57 a share, spending more than $252,000, according to a Form 4 filed with the Securities and Exchange Commission on Aug. 29.
The purchase is the second part of a three-part private placement financing agreement between Pharmstandard International, along with other investors, and Argos, where Pharmstandard agreed to purchase up to $60 million of Argos’ common stock and warrants.
On March 22, Pharmstandard purchased 1.78 million shares and warrants to purchase 1.3 million shares of Argos stock. Should the initial two closings meet the satisfactory closing conditions, the third closing will occur no later than Feb. 28, 2017, and is expected to raise $10.2 million.
Argos Therapeutics, an immune-oncology company focused on the development and commercialization of individualized immunotherapies for the treatment of cancer, said the financing will be used to fund Phase 3 of the ADAPT clinical study of AGS-003.
Argos shares closed on Aug. 29 at $5.22 a share, up 36 cents, or 7.41 percent, for the day.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism
