PaxMed­ica surges af­ter fi­nanc­ing; Mar­i­nus makes Chi­na de­vel­op­ment and sales pact

Shares of small-cap drug­mak­er PaxMed­ica surged 65% on Fri­day af­ter the com­pa­ny an­nounced a fi­nanc­ing deal worth as much as $20 mil­lion with the in­vest­ment fund Lin­coln Park Cap­i­tal.

Fri­day’s share gain $PXMD claws back some of the com­pa­ny’s stock loss­es since it de­buted in an IPO ear­li­er this year. The shares priced in Au­gust at $5.25, but have since lost much of their val­ue and closed Thurs­day at $1.55 per share. On Fri­day morn­ing, af­ter the fi­nanc­ing an­nounce­ment, they were up to around $2.55.

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