Gemphire Therapeutics Closes $12.5 Million Stock Sale, Announces Net Losses
ANN ARBOR - Gemphire Therapeutics Inc., a clinical-stage biopharmaceutical company, announced that it has closed on the sale of 1.3 million shares of stock to a select group of accredited investors that will raise about $12.5 million, providing cash flow through 2018. Gemphire Therapeutics will use the money to fund development costs, the company said