Ligand Pharmaceuticals Inc. of Hawthorne, N.Y., raised anadditional $5.8 million from its recently completed initialpublic offering, as the underwriters of the IPO -- LehmanBrothers, Hambrecht & Quist Inc., and Smith Barney, HarrisUpham & Co. Inc. -- exercised their option to purchase from thecompany an additional 562,500 shares of class A common stockat $11 share.

The total net proceeds of the offering is now $44.1 million.

Ligand's stock (NASDAQ:LGNDA) was down 25 cents a share to$11 on Thursday.

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