Creative BioMolecules Inc. announced that its underwritinggroup, led by Montgomery Securities and Prudential SecuritiesInc., has exercised its option in connection with the company'sinitial public offering to purchase an additional 450,000 sharesof common stock. The company, which began trading Dec. 18,raised $21 million in its 3 million-share IPO.
The Hopkinton, Mass., company (NASDAQ:CBMI) is a leader inthe discovery and development of proprietary protein-basedproducts for the regeneration and repair of human tissues. It isdeveloping products based on two classes of naturallyoccurring proteins, morphogenic proteins and growth factors.The initial targets for the company's programs includeorthopedic reconstruction, metabolic bone diseases, dentaldisorders, gastrointestinal diseases and cancer.
The company's stock slipped 50 cents a share on Wednesday,closing at $8.25.
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