Athena Neurosciences Inc. announced Monday that it has filedan S-3 registration statement for a follow-on public offering of3 million shares of common stock (NASDAQ:ATHN).
Of the shares in the offering, 2.4 million will be offered in theU.S. and the remaining 600,000 will be offered internationally.PaineWebber Inc. and Alex. Brown & Sons Inc. are managingthe offering.
This is the second public offering in 1993 for Athena of SouthSan Francisco, Calif. In March, the neuroscience companygrossed $14.8 million in a scaled-down offering of 2 millionshares of common stock (plus 200,000 shares inoverallotments) at $6.75 per share. Athena had hoped to place3 million shares and 300,000 in overallotments, but reducedthat number due to poor market conditions.
For the third quarter ended Sept. 30, Athena reported cash,cash equivalents and short-term investments of $34.4 million,with net losses running at $4.3 million.
The stock closed Monday at $11.25 a share, down 88 cents.--Jennifer Van Brunt
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