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Health and Healthcare

Regenerx Looks To Boost Liquidity Via Offering (RGN)

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By Douglas A. McIntyre Updated Published
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REGENERX BIOPHARMACEUTICALS, INC. (AMEX: RGN) filed for a secondary offering late yesterday to sell some $60 million in a secondary offering of stock and warrants.

Its fully diluted market cap on last look was $92.8 million.  As of April 30, 2008, the aggregate market value of its outstanding common stock held by non-affiliates was approximately $48,048,508, based on 51,553,527 shares of outstanding common stock.  Approximately 27,456,290 shares are held by non-affiliates, and a price of $1.75 based on the closing sale price of the common stock on April 30, 2008.

This biotech is focused on the discovery and development of novel molecules to promote tissue and organ repair.  The company intends to use the net proceeds from the sale of securities to further develop its clinical trials and for general corporate purposes.

You can join our open email distribution list to hear about other secondaries, IPO’s, spin-offs, and other special situation previews.

Jon C. Ogg
May 7, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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