Athena Neurosciences Inc. announced late Tuesday that it hascompleted its follow-on offering, grossing $27.75 million fromthe sale of 3 million shares of common stock (NASDAQ:ATHN) at$9.25 per share. Of the shares, 2.4 million were offered in theU.S. and the remaining 600,000 were offered internationally.The South San Francisco, Calif.-based neuroscience companyfiled for the offering on Nov. 1. PaineWebber Inc. and Alex.Brown & Sons Inc., the managers of the offering, have beengranted the option to purchase an additional 450,000 shares tocover any overallotments.
This is the second public offering in 1993 for Athena. In March,the company grossed $14.8 million in a scaled-down offering of2 million shares of common stock at $6.75 per share. For thethird quarter ended Sept. 30 Athena reported cash, cashequivalents and short-term investments of $34.4 million, withnet losses running at $4.3 million.
The stock closed Tuesday at $9.63, down 13 cents.
-- Jennifer Van Brunt Senior Editor
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