Alpha 1 Biomedicals Inc. is placing a call on its class Bwarrants, the Bethesda, Md., company announced Friday.

The warrants, issued in July 1991, became callable once thecommon stock traded at an average share price greater than$15 during 20 consecutive days, R. J. Lanham, vice president offinance, told BioWorld.

Holders may exercise the warrants until March 2, and maypurchase one share of common stock and one class C warrantupon payment of a $12 exercise price. The company willredeem unexercised warrants for 10 cents each after March 2.

The four-year class C warrant, not redeemable for one year,entitles the holder to purchase one share of Alpha 1Biomedicals common stock for $24. The warrants areredeemable by the company at 10 cents each after one year ifthe average common stock share price exceeds $30 for 20consecutive business days.

Alpha 1 Biomedicals (NASDAQ:ALBM) develops pharmaceuticalproducts to treat chronic viral diseases, immune disorders andcancer.

Alpha 1's stock closed at $14.50 a share on Friday, down $1.50.020193ALPHA 1

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