Amylin Pharmaceuticals Inc. announced that the underwritersof its secondary public offering of 2 million shares of commonstock (NASDAQ:AMLN) have exercised their overallotmentoption on 300,000 shares. The shares were priced at $11 each.The offering, which was underwritten by Morgan Stanley & Co.Inc., Hambrecht & Quist Inc. and Vector Securities InternationalInc., was completed Oct. 8. With the overallotment option beingexercised, the offering netted close to $23.5 million for Amylinand increased its total outstanding shares to 19.7 million.
The San Diego company also released its third quarter earningsreport earlier this week. Excluding the proceeds from thesecondary offering, Amylin's cash equivalents and short-terminvestments totaled $39.6 million as of Sept. 30.
-- Jennifer Van Brunt Senior Editor
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