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Bellerophon closes $7m round

January 28, 2019 By Sarah Faulkner

Bellerophon TherapeuticsBellerophon Therapeutics (NSDQ:BLPH) last week closed an underwritten public offering of 10,000,000 shares of common stock at 70¢ apiece.

The Warren, N.J.-based company also gave underwriters a 45-day option to buy up to an additional 1,500,000 shares of common stock at the same price.

The gross proceeds of the offering were $7 million, Bellerophon reported.

Earlier this month, the company said it plans to use the offering’s proceeds to fund working capital, R&D efforts and other general corporate purposes.

The company is studying the use of its INOpulse device in patients with pulmonary hypertension due to interstitial lung disease in a Phase IIb study.

The placebo-controlled study is designed to evaluate the safety and efficacy of pulsed, inhaled nitric oxide in patients with PH-ILD, including those with idiopathic pulmonary fibrosis, Bellerophon reported last year.

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Filed Under: Business/Financial News, Drug-Device Combinations, Featured, Funding Roundup, Pharmaceuticals, Respiratory, Wall Street Beat Tagged With: Bellerophon Therapeutics

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