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Stock Market & Financial Investment News

News Breaks
December 6, 2012
16:02 EDTBIODBiodel: FDA grants orphan drug designation for Glucagon
Biodel announced that the FDA has granted orphan drug designation for Biodel's 'glucagon' for the prevention of hypoglycemia in the congenital hyperinsulinism population. The FDA grants orphan designation to promote development of therapies to treat rare diseases. Once this designation is granted, the sponsor may be eligible for a range of incentives including FDA grant funding for clinical trial costs, tax credits related to development expenses, waiver of FDA user fees, and a seven-year period of marketing exclusivity in the U.S. following FDA approval.
News For BIOD From The Last 14 Days
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July 29, 2014
13:21 EDTBIODSabby reports 8.38% passive stake in Biodel
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July 28, 2014
06:11 EDTBIODBiodel enters into $15M equity commitment with Lincoln Park Capital
Biodel announced that it has entered into a stock purchase agreement with Lincoln Park Capital Fund, or LPC, a Chicago-based institutional investor. Under the terms of the purchase agreement, Biodel will have the right to sell to LPC, and LPC will be obligated to purchase, up to $15M in shares of Biodel's common stock, subject to the limitations and conditions set forth in the agreement. Biodel intends to use any proceeds that it receives from the sale of shares under the purchase agreement for general corporate purposes and working capital requirements. Under the terms of the purchase agreement and related registration rights agreement, Biodel has agreed to file with the SEC a registration statement covering the shares that may be issued to LPC under the purchase agreement. Sales under the purchase agreement may take place over the 36-month period after the registration statement is declared effective by the SEC.

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