Isis Pharmaceuticals Inc. said it has filed with the Securitiesand Exchange Commission a registration statement for aproposed public offering of 2.5 million shares of common stock.The company said Ciba-Geigy Ltd. has indicated an interest inpurchasing some of the shares.
Lehman Brothers, PaineWebber Inc., Cowen & Co. and DaiwaSecurities America Inc., the underwriters for the offering, havean option to purchase up to an additional 375,000 shares tocover overallotments.
Isis (NASDAQ:ISIP) of San Diego said it plans to use the netproceeds of the offering for research and development,including preclinical and clinical testing, production ofcompounds, facilities expansion and general corporatepurposes.
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