Thursday, December 19, 2013

Lorus Therapeutics Inc. - LOR.t

Lorus Therapeutics Inc. - LOR.t is a clinical stage cancer drug development company with a focus on cellular targets that are emerging on the leading edge of cancer research and not already widely developed.

The drug pipeline includes Small Molecule products and Immunotherapies that address novel validated cancer targets that spare normal tissue and therefore demonstrate high safety profiles.

On December 10, 2013 the company released News

Lorus Therapeutics Inc. (TSX: LOR) (“Lorus” or the “Company”) has completed today its previously announced public offering of common shares of the Company (the “Offered Shares”).

The Company issued a total of 12,730,000 Offered Shares at a price of $0.55 per Offered Share (the “Offering Price”), for aggregate gross proceeds of $7,001,500 (the “Offering”). The Offering was sold to a syndicate of underwriters co-led by Clarus Securities Inc. and Canaccord Genuity Corp. and including Jennings Capital Inc. and D&D Securities Inc. (collectively, the “Underwriters”) as well as PowerOne Capital Markets Limited as a member of the selling group, upon the terms of an underwriting agreement entered into among the Company and the Underwriters. In addition, the Company has granted the Underwriters an over-allotment option to purchase that number of additional common shares equal to 15% of the Offered Shares sold pursuant to the Offering at the Offering Price for a period ending 30 days following the closing of the Offering (the “Over-Allotment Option”).