Amylin Pharmaceuticals Inc. on Friday registered to sell3.77 million shares of common stock. If the stock(NASDAQ:AMLN) sells at Friday's closing price of$7.90, the company would gross over $29.8 million.

Amylin on Aug. 29, 1995 announced that a second PhaseII clinical trial had produced more evidence thatpramlintide, an analog of the hormone amylin, waseffective in lowering blood glucose concentrations inpatients with Type I or juvenile onset diabetes. (SeeBioWorld Today, Aug. 29, 1995, p. 2.)

Amylin said that it will reserve 1.27 million shares,approximately $10 million, to offer directly to Johnson &Johnson Development Corporation. Amylin, of SanDiego, is collaborating with LifeScan Inc, a subsidiary ofJohnson & Johnson, of New Brunswick, N.J.

Proceeds from the offering are earmarked for Phase IIIpivotal efficacy studies on pramlintide, other research anddevelopment programs and general and administrativeexpenses, the company said.

The current offering brings to 28 million the number ofshares outstanding, including the shares sold to Johnson& Johnson. However, it does not include shares that maybe sold to cover over-allotments.

Amylin's research and development expenses jumpedfrom $7.2 million in the three-month period ending June30, 1994 to $10.4 million for the same period in 1995.The company reported a net loss of $3.6 million or 16cents per share for the six-month period ending June 30,1995 compared to a $8.3 million loss or 42 cents pershare for the same period in 1994.

While revenues from the collaborative agreements wereonly $167,000 in the first half of 1994, they rose to justover $9 million in the same period of 1995. _ Michele L.Robinson

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