Texas Biotechnology Corp. announced that the underwriter ofits initial public offering, D. Blech & Co., will exercise its optionto offer an overallotment of 532,000 Texas Biotech units(ASE:TXB E).

The Houston companycompleted its initial public offering lastmonth, raising $24 million from the sale of 3.5 million unitspriced at $6.75 each.

The company's stock closed at $6.88 on Friday, up 25 cents.

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