Cor Therapeutics Inc. on Friday announced a public offering of2.5 million shares of common stock at $15 per share.
The offering was managed by an underwriting group led byRobertson, Stephens & Co., L. P. and Montgomery Securities.The underwriters have an overallotment option to purchase375,000 additional new shares.
The South San Francisco, Calif., company (NASDAQ:CORR) raised$15 million in an intial public offering in June 1991, andanother $36.5 million four months later.
Cor's first potential product, Integrlin, entered Phase II trialsearly last year for the treatment of unstable angina and in late1992 for the prevention of abrupt closure following coronaryangioplasty. In addition, Cor has programs targeted atdeveloping therapeutics for the treatment of a wide variety ofsevere cardiovascular diseases. Cor is focused on the discovery,development and commercialization of biopharmaceuticals totreat and prevent severe cardiovascular diseases.
Cor's stock closed Friday at $17.25, up $1.50 a share.
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