Repligen Corp. announced Monday that the underwriters for itsrecently completed public offering -- Lehman Brothers,Montgomery Securities and Robertson, Stephens & Co. -- haveexercised their option to purchase 375,000 of the company'sstock.
The purchase of the overalloted shares at $6 per share bringsthe Cambridge, Mass., company's gross proceeds from thefinancing to $17.3 million, of which the company will net $16million. Repligen now has approximately 15.3 million sharesoutstanding.
Proceeds will be applied to clinical trials, research anddevelopment, manufacturing scale-up and facilities expansion.The company's four products in clinical trials are recombinantplatelet factor-4 (rPF4), being studied as a therapeutic for coloncancer, malignant melanoma and renal cell carcinoma; m60.1,an antibody-based therapeutic for chronic lung inflammationbeing developed in collaboration with Eli Lilly and Co.; AM285for treatment of cancer; and RP400C, an HIV vaccine.
Repligen's stock (NASDAQ:RGEN) closed at $6.50 per share onMonday, up 25 cents. -- Karl Thiel
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