Underwriters of Vertex Pharmaceuticals Inc.'s recent stockoffering have purchased 450,000 shares of the company'scommon stock to cover overallotments. The offering wasmanaged by Cowen & Company, Robertson, Stephens &Company and Vector Securities International Inc.
Prior to the exercise of the overallotment option, Vertex soldthree million shares at $18 per share. Proceeds from theoffering now total $62.1 million.
Vertex of Cambridge, Mass., is engaged in the discovery,development and commercialization of small moleculepharmaceuticals, concentrating on treatments for viral diseases,multidrug resistance in cancer, hemoglobin disorders,inflammation, autoimmune diseases and transplant rejection.
The company's stock (NASDAQ:VRTX) closed at $19 per share,down 13 cents.-Karl Thiel
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