Cortech Inc. announced Friday that the underwriters of itsrecent follow-on offering have exercised their options topurchase an additional 352,500 shares of common stock.

At the offering price of $15, that grossed an extra $5.3 millionfor the Denver company. The underwriters were MontgomerySecurities and Hambrecht & Quist Inc.

Cortech (NASDAQ:CRTQ) initially issued 2.35 million shares ofcommon stock on Oct. 26. Together with the overallotment, thecompany said it garnered net proceeds from the offering ofapproximately $38 million.

Cortech now has close to 17.1 million shares outstanding,according to Joseph Turner, the company's chief financialofficer.

The stock gained 50 cents a share on Friday, closing at $14.75.-- Jennifer Van Brunt

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