Glycomed Inc. (NASDAQ:GLYC) announced Wednesday that ithas filed a registration statement with the Securities andExchange Commission for a public offering of $50 million inprincipal amount of convertible subordinated debentures, plusan additional $7.5 million to cover overallotments. Thedebentures will be due in 2003.
The Alameda, Calif., company is developing carbohydrate drugsfor treating heart disease, including restenosis and blood clots,and inflammatory diseases such as arthritis and psoriasis, aswell as compounds to accelerate wound healing. The company'sstock closed unchanged Wednesday at $13.50 -- Jennifer VanBrunt
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