Isis Pharmaceuticals Inc. announced Tuesday that it hascompleted a sale of 850,000 publicly registered shares of itscommon stock at $6.50 each. The shares were sold to a singleinstitutional investor for aggregate proceeds of approximately$5.5 million.
Isis' stock closed at $6.75 per share on Feb. 21, the day theoffering was priced. Including the stock issued for thistransaction, the Carlsbad, Calif., company has approximately19.5 million shares outstanding.
Isis (NASDAQ:ISIP) is focused on the discovery anddevelopment of novel oligonucleotide-based human therapeuticcompounds. Its first oligonucleotide-based drug, ISIS 2105, isin Phase III clinical trials for treating genital warts and itssecond, ISIS 2922, is in Phase I/II trials for treating retinitis inAIDS patients.
Isis' stock closed Tuesday at $7.88 a share, up 25 cents.
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