Shaman Pharmaceuticals Inc. announced Wednesday that it hasfiled a registration statement with the Securities and ExchangeCommission for a follow-on public offering of 2 million sharesof common stock.
The price per share will be the market price the day of theclosing. Shaman's stock (NASDAQ:SHMN) closed at $11.25 ashare on Wednesday, down 25 cents. The company has 10.6million shares outstanding before the offering and $44 millioncash on hand.
In January, Shaman completed its initial public offering of 3million shares at $15 per share, grossing $45 million. Theoffering was 500,000 shares more than the number proposedin the company's preliminary prospectus.
Shaman of South San Francisco, Calif., has two products inclinicals, Provir for the treatment of respiratory viral infectionsand Virend for treatment of herpes. The company reported inSeptember that Provir was well-tolerated in a Phase II studyof 32 adults experimentally infected with respiratory syncytialvirus. A Phase I/II study of Virend was recently completed,and Shaman expects to announce results by the end of theyear.
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