Eye drug maker InSite Vision Inc. will use most of the $22.2 million raised from a private placement to fund clinical trials and working capital.
The Alameda company (OCTBB: INSV) will issue 37 million shares of its common stock as well as warrants to buy about 14.8 million additional shares. Those warrants will be exercisable for five years at an exercise price of 75 cents per share.
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