Bioject Medical Technologies Inc. announced Tuesday that ithas completed a follow-on public offering of its common stock,for which it filed a registration statement with the Securitiesand Exchange Commission (SEC) on Sept. 17.
The Portland, Ore., company sold 2.6 million shares of stock(NASDAQ:BJCT) at $4.50 per share, grossing $11.75 million inthe process. The underwriter, Pacific Growth Equities, has theoption to purchase an additional 391,500 shares to cover anyoverallotments.
Bioject develops, manufactures and markets a jet injectionsystem for needle-free drug delivery. The company has anagreement with Eli Lilly and Co. to develop a self-injectionsystem for insulin delivery.
The company's stock closed unchanged Wednesday at $5.25 ashare. -- Jennifer Van Brunt
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