July 26, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — PharmAthene, Inc. (AMEX: PIP) said that it has completed the sale of $3.9 million of its common stock and warrants to a single existing institutional investor in a registered public offering.

Under the terms of the purchase agreement, PharmAthene sold an aggregate of 2,785,714 newly issued shares of its common stock at $1.40 per share and warrants to purchase an aggregate of 1,323,214 shares of its common stock at an exercise price of $1.63 per share, the closing price of PharmAthene's common stock on July 19, 2010.

The warrants will be exercisable beginning on January 23, 2011 and will expire on January 23, 2017.

PharmAthene said it plans to use the net proceeds of the offering for general corporate purposes.

Maryland-based PharmAthene is a biodefense company developing medical countermeasures against biological and chemical threats

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