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March 5th, 2004
Nanogen Announces $34 Million Common Stock Sale
Nanogen, Inc. (Nasdaq: NGEN) announced today that it has sold 4.25 million shares of its common stock to institutional investors at a price of $7.94 per share, for gross proceeds of approximately $33.7 million. "This financing further strengthens our balance sheet and provides additional capital to accelerate our entry into the point-of-care diagnostics market, which began with our recent agreement to acquire SYN X Pharma," said Howard C. Birndorf, chairman and CEO of Nanogen.
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