June 11, 2010 (FinancialWire) — Clinical Data, Inc. (NASDAQ: CLDA) said it has raised gross proceeds of around $27.8 million through the public offering of 1,945,576 newly issued shares of its common stock at a price of $14.30 per share. BMO Capital Markets Corp. (NYSE: BMO) is acting as the sole book running manager.

All of the shares are being offered by Clinical Data, which exhausts all remaining shares on its existing shelf registration statement.

The underwriters have an option to purchase up to an additional 291,836 shares to cover over-allotments, which, if purchased, would result in total gross proceeds to the company of approximately $32 million.

Clinical Data said that the offering is expected to close no later than June 14.

Massachusetts-based Clinical Data develops is advancing its late-stage drug candidates for central nervous system disorders and cardiovascular diseases, to be followed by drug candidates in other therapeutic areas.

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