Techniclone to Get $305,000 in Equity Deal
(Dow Jones)
Techniclone Corp., a Tustin biopharmaceutical company, said Tuesday that it has received net proceeds of about $305,000 from two institutional investors under its common stock equity line subscription agreement.
The company said it will use the net proceeds, as well as cash on hand, to continue operations at reduced levels through December.
Shares of the company rose 3 cents a share Tuesday to close at 47 cents in Nasdaq SmallCap trading.
