Newspaper article Sarasota Herald Tribune

Rock Creek Raises $500,000

Newspaper article Sarasota Herald Tribune

Rock Creek Raises $500,000

Article excerpt

DRUG INDUSTRY

MANATEE COUNTY -- Rock Creek Pharmaceuticals Inc., the locally based clinical-stage drug-development company, says it has entered into a securities purchase agreement with six investors for 1,428,570 of its common stock.

The purchase price was 35 cents per share.

The deals also included warrants to buy up to 2,857,140 shares, at an exercise price of $1.12 per share.

Rock Creek said it raised $500,000 from the private placement.

The company's Nasdaq-traded shares were selling for 37 cents by the close of regular trading on Thursday, up 6.5 cents, or about 22 percent.

Rock Creek is appealing a decision by the Nasdaq Stock Market to delist its shares because the company has failed to maintain a market value of $35 million.

Last week, the company reported that it had a net loss from continuing operations of $6. …

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