Cell Genesys Inc. announced Monday that it completed aninitial public offering of 3.5 million shares at $11 per share.
The Foster City, Calif, company has granted the underwriters --Robertson, Stephens & Co, Invemed Associates Inc. andOppenheimer & Co. Inc. -- an option to purchase up to anadditional 500,000 shares to cover overallotments. Thecommon stock will trade on the NASDAQ National MarketSystem under the symbol CEGE.
Net proceeds from the IPO will be used for research anddevelopment, capital expenditures related to the expansion offacilities, and for general corporate purposes, the company said.
Cell Genesys which is applying gene targeting technology to thedevelopment of human therapeutic health care products,initially filed for an IPO last spring of 3 million shares at $11-13 a share, but withdrew it due to market conditions. Thecompany filed an amended registration statement with theSecurities and Exchange Commission on Jan. 4 of 3 millionshares at $9-11 a share.
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