Vical Inc. announced Thursday that the underwriters in thecompany's follow-on offering, which it completed July 22, haveexercised their overallotment option, purchasing an additional284,500 shares of common stock (NASDAQ:VICL).

The underwriters, Hambrecht & Quist and Vector SecuritiesInternational Inc., had the option to purchase a total of 300,000shares as a result of the offering, which grossed about $14million on sales of 2 million shares at $7.

Sales of the additional 284,500 shares, also at $7, brought thetotal gross proceeds of the offering to nearly $16 million.

With the exercise of this option, Vical, a gene therapy companybased in San Diego, has 12,829,377 shares outstanding.

The company's stock closed unchanged on Thursday at $6.75 ashare.

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