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AmpliPhi Biosciences plans $3M common stock offering

San Diego-based AmpliPhi Biosciences Corp. agreed to sell 2,743,640 common shares at $1.10 per share in an offering to certain institutional investors.

The company, which develops therapies for infections, expects gross proceeds of about $3 million. AmpliPhi plans to use the net proceeds for general corporate purposes.

H.C. Wainwright & Co. is the exclusive placement agent for the offering, which is expected to close by March 22.