Cell Genesys Inc. announced Monday that it has filed aregistration statement with the Securities and ExchangeCommission (SEC) for a follow-on offering of 2 million shares ofcommon stock (NASDAQ:CEGE).
The offering is being co-managed by CS First Boston, InvemedAssociates Inc. and Oppenheimer & Co. The underwriters havean option to purchase an additional 300,000 shares to coverany overallotments.
This offering comes just 10 months after the Foster City, Calif.,company went public. Cell Genesys raised $44 million in itsinitial public offering (IPO) in January, selling 4 million shares,including overallotments, at $11 per share.
The company, which is applying gene-targeting technology tothe development of human therapeutic health-care products,had originally tried to go public in the spring of 1992, butwithdrew the offering due to market conditions.
At the end of the third quarter on Sept. 30, Cell Genesysreported cash, cash equivalents and short-term investments of$51.4 million, and a net loss of $1.9 million.
The company's stock lost 50 cents a share Monday, closing at$21.13.
-- Jennifer Van Brunt Senior Editor
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