Amylin Pharmaceuticals Inc. announced Friday that it hascompleted its secondary public offering of 2 million shares ofcommon stock.

The shares (NASDAQ:AMLN) were sold at $11 each, grossing$22 million for the San Diego company.

The underwriters, Morgan Stanley & Co. Inc., Hambrecht &Quist Inc. and Vector Securities International Inc., have anoption to purchase an additional 300,000 shares to coveroverallotments. Exclusive of the overallotment, Amylin now hasabout 19.4 million shares outstanding.

Amylin filed the registration statement for the offering withthe Securities and Exchange Commission on Sept. 29.

Amylin ended its second quarter on June 30 with about $45.4million in cash and cash equivalents.

The stock closed Friday at $11 a share, down 75 cents in heavytrading of 1.3 million shares.

-- Jennifer Van Brunt Senior Editor

(c) 1997 American Health Consultants. All rights reserved.