Medgenics prices 5.6M common shares and warrants Medgenics prices a public offering of 5.6M shares at $5.25 and warrants to purchase up to 2.8M shares at an exercise price of $6.78. Maxim was lead book runner for the offering.
Medgenics reports Q3 EPS (21c) vs. (33c) last year Gross research and development expenses for the three months ended September 30 decreased to $2.28M from $2.45M for same period in 2013. This decrease was due mainly to a decrease in subcontractor costs. Net R&D expenses for the three months ended September 30 decreased to $1.57M from $2.34M for the same period in 2013. The decrease in net R&D expenses was due to an increase of $0.61M in the participation by the Israeli Office of the Chief Scientist in addition to the decrease in gross R&D expenses. General and administrative expenses for the three months ended September 30 were $2.31M, decreasing from $2.56M for the same period in 2013 primarily due to a decrease in professional fees.