Pharmacopeia Announces $8.47M Private Placement Financing

Pharmacopeia has agreed to sell 2.47 million shares of common stock at $3.43 per share for approximately $8.47 million. The price was determined by applying a 15% discount to the 5-day trailing average closing price of Pharmacopeia's common stock. The offering is subject to customary closing conditions and is being led by Jefferies & Company, Inc. as financial advisor and sole placement agent.