Incyte Pharmaceuticals Inc. announced Friday that D. Blech &Co. Inc., the underwriter for its initial public offering (IPO), haspurchased 300,000 shares of common stock (ASE:IPI) to satisfyoverallotments. In all, the IPO grossed $17.25 million on thesale of 2.3 million shares at $7.50 per share. The Palo Alto,Calif., biopharmaceutical company now has 6.4 million sharesoutstanding.
The stock began trading Nov. 4; it gained 88 cents a share onMonday to close at $9.25.
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