SAN DIEGO, Nov. 6, 2013 (GLOBE NEWSWIRE) -- Ocera Therapeutics, Inc. (Nasdaq:OCRX), a biopharmaceutical company focused on innovative therapeutics for orphan liver disease, announced today that it has obtained commitments to purchase common stock and warrants in a private placement. Gross proceeds from the private placement are expected to be $28 million before deducting fees and expenses. Ocera intends to use the net proceeds primarily to advance the clinical and nonclinical development of OCR-002, ornithine phenylacetate, for the treatment of hepatic encephalopathy. Ocera is planning to enroll patients in a Phase 2b study of the IV form of OCR-002 later this year, and to begin work on the oral form of OCR-002 in 2014.
Ocera Therapeutics Announces $28 Million Private Placement
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