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Tranzyme prices $10m offering

This article was originally published in Scrip

Executive Summary

Tranzyme has priced an offering of 2.6 million shares at $3.85 each, as the company hopes to raise $10 million, with the possibility of a further $1.5 million if the underwriters exercise their overallotment options. The money will be used to develop its oral ghrelin agonist TZP-102 to treat diabetic gastroparesis, for which Phase IIb results are expected by the end of 2012.

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