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Biotech firm plans stock sale

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Cytogen plans to sell 2.57 million shares of its common stock at $10.10 per share through a registered direct offering. The transaction is expected to net the company $24 million. Founded in 1980, Princeton, NJ-based Cytogen develops and commercializes

Cytogen plans to sell 2.57 million shares of its common stock at $10.10 per share through a registered direct offering. The transaction is expected to net the company $24 million. Founded in 1980, Princeton, NJ-based Cytogen develops and commercializes oncology products, including the pain management product Quadramet and diagnostic radiopharmaceutical Prostascint. The company has exclusive U.S. marketing rights to Combidex, an investigational MR agent designed to aid in the diagnosis of metastatic lymph nodes.

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