Repligen Corp. said Friday it is offering those issued warrants inFebruary 1992 an option to exchange them for new warrants. Aregistration statement was filed with the Securities and ExchangeCommission on Friday.The warrants were issued in connection with the formation ofRepligen's research and development partnership, Repligen ClinicalPartners Ltd., which funds clinical testing and development ofrecombinant platelet factor-4 (rPF4), which is in Phase I/II and Phase IItrials as both an agent to neutralize heparin in certain cardiovascularprocedures and as a cancer therapy.Under the terms of the proposed exchange offer, warrant holders havethe option to exercise their existing warrants for new warrants with anexercise price that will be reduced from $22.73 to $9. In turn, theirroyalty rate will be reduced from 12.85 percent to 9 percent. Thewarrant period will be extended one year, to March 31, 2000.Repligen's stock closed at $6.13 per share Friday, up 13 cents pershare. - Jim Shrine
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