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By The Online Investor Staff, updated Sat., Apr. 20, 5:59 AM
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Private Placements| This Slide: #8 of 25 |
Slide #8. Desert Gateway — Private Placement
Company:
Desert Gateway (RTRX)
$Amount:
$10,000,000 (USD)
Closed on:
2/12/2013
Private Placement Details:
Desert Gateway (OTCPK: RTRX), the parent company of Retrophin, Inc., a biotechnology company focused on discovering and developing treatments for rare and life-threatening diseases, today announced it has entered definitive agreements with institutional investors in connection with a private placement, or PIPE financing. Upon closing of the transaction, the Company will receive gross proceeds of approximately $10.0 million in exchange for the issuance to such investors of 3,333,332 shares of common stock and warrants to purchase an additional 1,530,559 shares of common stock of the Company. Closing of the transaction is expected to occur the week of February 11, 2013 and is subject to customary closing conditions.
Retrophin is a biopharmaceutical company focused on identifying, developing and delivering therapies to people living with rare diseases. Co.'s commercialized products include Chenodal (chenodiol tablets) for the treatment of radiolucent stones in well-opacifying gallbladders in patients; Cholbam (cholic acid capsules), a treatment for pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, and for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC (tiopronin), a treatment for cystinuria, a genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones. Retrophin is a biopharmaceutical company focused on identifying, developing and delivering therapies to people living with rare diseases. Co.'s commercialized products include Chenodal (chenodiol tablets) for the treatment of radiolucent stones in well-opacifying gallbladders in patients; Cholbam (cholic acid capsules), a treatment for pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects, and for adjunctive treatment of patients with peroxisomal disorders; and Thiola and Thiola EC (tiopronin), a treatment for cystinuria, a genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones.
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Avg. Broker Rec.
 
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Strong Buy (3.75 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: RTRX Stock Forecast Based on Zacks ABR data; powered by Xignite |
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