Cadence raises $86.6 million in financing

Cadence Pharmaceuticals, a biopharmaceutical company, has completed its previously announced private placement of approximately 12 million shares of the company's common stock at a price of $7.13 per share and five-year warrants to purchase up to approximately six million additional shares of the company's common stock, exercisable in cash or by net exercise at a price of $7.84 per share, for aggregate gross proceeds of approximately $86.6 million.