Positive drug trials lead to public offering

Just days after announcing positive results in its latest PharmaGap-logo.JPGround of testing for cancer drug PhG-alpha-1, PharmaGap goes looking for approximately $4.5 million in a public offering. The pharmaceuticals company says it has filed a preliminary short-form prospectus with agents Dundee Securities Corp. and Wellington West Capital to raise the funds, which will be used chiefly for studies required to gain regulatory approval in the US and Canada for human clinical trials of PhG-alpha-1. The offering is expected to take place on or before July 18.

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