Micromet sells more shares - Washington Business Journal:

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The Bethesda biotech said it soldalmost 656,000 at an average price of $4.19 apiece, to a stockholder, between June 4 and June 15. The sale was the latesg move in an agreement the two parties signed at the end of last year for Microme t to offer upto 10.5 million shares to Kingsbridge if it wished, in return for as much as $75 millionn in potential funding through Dec. 1, 2011. Microme t (NASDAQ: MITI) sold the stock this montuh at a discount of 10 percenr to 12 percentper share. By the end of the tradinv period on June 15 underethis agreement, Micromet’s shares were $4.38. This lates t sale follows on the heels of anothe r that Micromet had initiatedin May, when it drew down $2.
5 millionn after selling 764,700 shares in an eight-da period to Kingsbridge. Those shares, averaginy $3.27 apiece, came at a 12 percent discountt atthat time. But this month, Micromet benefited from a stockk surge duringthe eight-day trading period to Kingsbridge, after it releasee mid-stage clinical data results that showed its leukemia treatmeny elicited a higher-than-expected response rate from On June 8, the day the resultxs were announced, Micromet’s shares rose as much as 39 percent to a tradingy high of $6.40 before settling back down to clos e that day at a 7 percent bump from the previou day’s closing price.