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Clinical Data Closes $32M Offering

Clinical Data (NASDAQ:CLDA), the Newton, MA-based drug developer, reports today that it has closed on the sale of 2.24 million shares of common stock. The stock offering brought in $32 million, of which the company plans to clear $30 million after expenses. The company is pursuing approval of its first drug, vilazodone, for treating depression. Last month, the FDA agreed to consider the company’s application for approval of the drug. Here’s a recent feature on Clinical Data’s big plans in the lucrative market for anti-depression pills.