Athena Neurosciences Inc. announced Wednesday that it hascompleted a secondary offering of 2 million shares at $6.75 pershare, grossing a total of $13.5 million.

An overallotment option of 300,000 shares is available tomanaging underwriters for the deal, PaineWebber Inc. andAlex. Brown & Sons Inc.

The South San Francisco, Calif., company filed for an offering of3 million shares on Jan. 15, but reduced the number of sharesoffered by 1 million due to poor market conditions, thecompany's chief financial officer, Matthew Megaro, toldBioWorld. After the offering, the company has 16.9 millionshares of common stock outstanding (18.3 million on a fullydiluted basis).

Athena (NASDAQ:ATHN) went public in November 1991 at $12a share, grossing $62.4 million on the sale of 5.2 million shares.The recently completed offering is its first follow-on offeringsince the IPO. The company's stock closed Wednesday at $7,down 25 cents a share.

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