Interferon Sciences Inc. has filed a registration statement with theSecurities and Exchange Commission for a proposed public offering of3 million shares of common stock, which the New Brunswick, N.J.,company hopes will raise $10 million or more.D. Blech & Co. of New York is underwriting the offering, and has anoption on 450,000 shares to cover overallotments.Interferon Sciences (NASDAQ:IFSC) has about 19.4 million sharesoutstanding, and about $4.5 million cash on hand, Samuel Ronel, thecompany's president and CEO, told BioWorld. Interferon Sciences isburning about $650,000 per month. The company, in its last offering inOctober 1991, sold 2 million shares at $5 per share. The stock closedTuesday at $3.50 per share."We expected the [market] conditions to be better, but there aren't toomany alternatives," said Ronel, adding that the money will be used tofinance clinical programs. One of the programs is a multi-center PhaseII trial testing the company's Alferon N Injection (based on naturalalpha interferon) in hepatitis C. It also is developing formulations ofthe drug _ which already is approved for treating genital warts _ forthe potential treatment of HIV, hepatitis B, multiple sclerosis, cancersand other indications. _ Jim Shrine
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