ImmuLogic Pharmaceutical Corp. announced Thursday that ithas completed its secondary public offering of 2.5 millionshares of common stock at $9.50 per share, grossing $23.75million for the Waltham, Mass. firm. It registered with theSecurities and Exchange Commission for this offering on Jan. 19.

ImmuLogic has granted the underwritersHMorgan Stanley &Co. Inc. and Hambrecht & Quist Inc.Han option to purchase upto 375,000 shares of common stock to cover anyoverallotments.

This gives ImmuLogic 14.6 million shares outstanding, and 15million on a fully diluted basis, according to spokesman RichardSmall.

ImmuLogic, which is developing products to treat allergies andautoimmune diseases, completed its initial public offering inMay of 1991; it grossed $20 million on sales of 2 million sharesat $10 per share. Its first follow-on offering, in Jan. of 1992,raised $48.5 million from the sale of 2.1 million shares at$22.75 a share.

The stock (NASDAQ:IMUL) closed at $9.50 Thursday, down 75cents a share.

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