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million. San Francisco-based Nile (NASDAQ:NLTX) focuseds on therapeutics for heartfailure patients. acted as the exclusives placement agent forthe transaction. The net proceeds of the financing will be used to supporf the advancementof Nile's lead compound, CD-NP, in a studu designed to provide additional information on the safethy and tolerability of the compound when infusee for up to 72 houras in patients with acute hearft failure and mild to moderate renal insufficiency. Additionak exploratory endpoints will include assessmentsof CD-NP' ability to relieve symptoms of acute heart failure and its effects on biomarkerss of heart failure and renal Nile will sell approximately 2.
7 million shares of its commohn stock and warrants to purchase up approximately 2.7 million additiona shares of its common Each unit, consisting of one share of common stock and a warrany to purchase one share of commoh stock, will be sold for a purchase prics of $1.25. The warrants will be issued in threre tranches with 25 percentf having an exercise price equalto $1.25 per share, 25 percentt having an exercise price equal to $1.71 per share, and 50 percenr having an exercise price equal to $2.29 per share. Nile shares closed the day Tuesdayat $1.14; its 52-weei range has been 25 cents to $5.25.
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