SciClone Pharmaceuticals Inc. is offering 2 million shares ofcommon stock in a follow-on to its 1992 initial public offering.The underwriters for the offering are Montgomery Securitiesand Smith Barney Shearson Inc.
SciClone of San Mateo, Calif., raised $22.4 million in an IPO of 3million shares of common stock at $7.25 per share and 3million warrants at 20 cents each. In August, SciClone raised$38.1 million from the redemption of outstanding non-redeemable warrants. The company has approximately $45million in cash. After the offering, it will have 17.8 millionshares outstanding.
SciClone is in Phase III clinicals with thymosin alpha 1 fortreatment of hepatitis B. The drug was licensed from Alpha 1Biomedicals Inc.
SciClone's stock (NASDAQ:SCLN) was down 38 cents a share onWednesday, closing at $22.88. -- Brenda Sandburg
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