TheraTech Inc. on Friday announced a secondary offering of1.25 million shares of common stock at $14 a share. WilliamBlair & Co. and Vector Securities International Inc. co-managedthe offering and have a 30-day option to purchase anadditional 187,500 common shares to cover over-allotments.
The Salt Lake City-based company (NASDAQ-THRT) completedan initial public offering in May of 1.25 million shares at $7.50a share. The company specializes in transdermal drug deliverytechnologies, and one of its lead products is a transdermaltestosterone patch that can be worn anywhere on the body.Proceeds from the offering will be used to fund research anddevelopment activities. Theratech stock closed unchangedFriday at $15 a share.
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