Underwriters for The Liposome Co. Inc. exercised their option to sellanother 450,000 shares at $9 per share, bringing $3.8 million to thecompany from its public offering.
The Liposome Co., of Princeton, N.J., netted about $28.8 millionfrom the offering of 3.45 million shares at $9 each. (See BioWorldToday, May 1, 1995, p. 4.) Hambrecht & Quist Inc., of SanFrancisco, and UBS Securities Inc., of New York, underwrote theoffering.
The Liposome Co.'s stock (NASDAQ:LIPO) closed Thursday at $10per share, up 38 cents.
The company now has about 27.5 million shares outstanding and $91million in cash and equivalents (going back to March 31), with a burnrate of $10 million to $11 million per quarter.
Proceeds from the offering will be used to help gear up for marketingof ABLC/Abelcet, or amphotericin B lipid complex; for continueddevelopment of TLC C-53; and other corporate purposes. _ JimShrine
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