Avalon Pharmaceuticals, Inc. (AVRX)

[surf1944]

Avalon Pharmaceuticals files for $50 million shelf
Thu Oct 25, 2007 5:13pm EDT

Email | Print | Digg | Reprints | Single Page | Recommend (-)
[-] Text [+]
Market News
Microsoft lifts profit outlook, shares rise | Video
Wall Street hit by write-downs, earnings
AIG stock falls on fear over possible write-down
More Business & Investing News...

WASHINGTON, Oct 25 (Reuters) - Avalon Pharmaceuticals Inc (AVRX.O: Quote, Profile, Research) filed with regulators on Thursday to periodically sell up to $50 million in common and preferred stock, debt securities and warrants.

The company said in a registration statement with the U.S. Securities and Exchange Commission that it will use the proceeds from the offering for clinical drug development, discovery of new drug candidates, the protection of intellectual property rights, and other purposes.

Under a shelf registration, a company may sell securities in one or more separate offerings with the size, price and terms to be determined at the time of sale.