Zonagen Inc. of The Woodlands, Texas, announced Thursdaythat the underwriter of its initial public offering, Reich & Co.Inc., has exercised 185,000 of the 202,500 shares (91.4percent) targeted to cover overallotments from the offering,which completed March 25. Including this overallotment,Zonagen (NASDAQ:ZONA) sold 1,535,000 common shares at$5.50, grossing approximately $8.4 million.

The stock closed Friday at $6.13 a share, off 25 cents

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