MacroChem Corp. announced last week that the Securities andExchange Commission (SEC) has declared effective its S-1registration statement for 4.26 million shares of common stock(NASDAQ:MCHM), 1.42 million Class A warrants (MCHML) and1.42 million Class AA warrants (MCHMM).

All the securities were issued in the Lexington, Mass.,company's private placement which it completed in January.

The S-1 registration statement also includes shares andwarrants granted to designees of the placement agent.

MacroChem develops and licenses transdermal drug deliverycompounds and systems. Its patented compound SEPAaccelerates the passage of drugs through the skin and otherbiomembranes.

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