Wednesday, April 13, 2011
Inhibitex Inc., of Atlanta, said underwriters for its recent public offering exercised their overallotment option in full for an additional 1.7 million shares priced at $4.10 apiece, adding net proceeds of $6.6 million. Total net proceeds from the public offering were $50.6 million and are expected to help support a Phase II trial of nucleotide polymerase inhibitor INX-189 in chronic hepatitis C and fund other R&D and corporate expenses.
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