Cephalon Inc. has filed a registration statement with theSecurities and Exchange Commission for a proposed publicoffering of 3 million shares of common stock.

The underwriters for the offering are Cowen & Co., Hambrecht& Quist Inc. and Robertson Stephens & Co.

Once the offering is completed, Cephalon will have 15.5 millionshares outstanding. This includes the 750,000 shares issued toChiron Corp. under a collaborative agreement for developmentof therapeutics to treat neurological diseases (see relatedstory).

As of Sept. 30, 1993, Cephalon had $50.03 million in cash onhand, and the company's loss for the nine-month period endedSept. 30 was approximately $12 million. The company's lastpublic offering was in April 1993 when it raised $20 millionthrough the sale of two million shares. -- Brenda Sandburg

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