Oclassen Pharmaceuticals Inc. announced Tuesday that it hasfiled an amended registration statement with the Securitiesand Exchange Commission for an initial public offering (IPO) of3 million shares of common stock at between $17 and $19 pershare.
The company originally filed last April for 2.5 million shares at$12 to $14 a share, but withdrew its offering.
The San Rafael, Calif., company will have 11.7 million sharesoutstanding after the offering. Lehman Brothers, Hambrecht &Quist Inc. and Oppenheimer & Co. will co-manage the offering.
Oclassen develops and market specialty prescriptionpharmaceuticals for the treatment of infectious and skindiseases, with a focus on dermatology and urology. Thecompany currently markets four prescription brands in theU.S., including a topical treatment for genital warts and acapsule formulation drug for acne.
Oclassen, which has raised $25 million in financing since 1985,had 1991 revenues of $6 million and a net loss of $5.3 million.
In August, the company signed a deal with Eli Lilly and Co.whereby Lilly will market OclassenLs anti-viral compound forhepatitis B infections overseas and will co-market the drugwith Oclassen in the U.S. The compound has shown promisingresults in Phase II trials.
(c) 1997 American Health Consultants. All rights reserved.