ImClone Systems Inc. announced Thursday that it hascompleted its secondary stock offering of 1.5 million shares at$7 per share, grossing $10.5 million.

Smith Barney, Harris Upham & Co. Inc.; Robertson, Stephens &Co. L.P.; and SBCI Swiss Bank Corporation Investment BankingInc. co-managed the offering and have an overallotment optionto purchase 225,000 additional new shares.

ImClone (NASDAQ:IMCL) of New York raised $35 million in itsinitial public offering of 2.5 million shares at $14 per share inNovember 1991. The company filed its registration for thecurrent offering, its first follow-on, April 16, when the stockwas trading at $9.50. It closed Thursday at $6.75 a share, down38 cents. -- Jennifer Van Brunt

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