The Liposome Company Inc. (TLC) announced Thursday that ithas filed a registration statement with the Securities andExchange Commission for a proposed offering of 2.4 milliondepositary shares at $25 a share. Each depositary sharerepresents one-tenth of a share of series A cumulativeconvertible exchangeable preferred stock. Hambrecht & QuistInc. and Dillon, Read & Co. are the offerings' underwriters.

TLC (NASDAQ:LIPO) of Princeton, N.J., will use the proceedsprimarily for the development and clinical testing of its self-funded projects. These include the anti-fungal drug TLC ABLC,a lipid-complexed amphotericin B, for which TLC reacquiredthe rights from Bristol-Myers Squibb recently.

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