ImaRx says IPO of 3 mln shares priced at $5/shr

July 26 Thu Jul 26, 2007 6:34am EDT

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July 26 (Reuters) - Biopharmaceutical company ImaRx Therapeutics Inc., in a filing with the U.S. regulators, said its initial public offering of 3 million common shares was priced at $5 a share.

ImaRx expects to use the net proceeds of about $12.3 million for product development, sales and marketing costs, for working capital and general corporate purposes, the company said in a filing with the U.S. Securities and Exchange Commission. (Reporting by Shailesh Kuber in Bangalore)

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