Thursday, February 9, 2012

Bionovo looks to sell $10M in preferred stock, warrants

Botanical drug developer Bionovo Inc. plans to raise $10 million by selling convertible preferred stock and warrants to buy up to 240 million shares of common stock.
The Emeryville company (Pink Sheets: BNVI) focuses on using traditional Chinese medicines for women’s health and cancer indications. Its lead drug candidate, Menerba, is designed to treat “hot flashes” during menopause.

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