Viratek Inc., a subsidiary of ICN Pharmaceuticals Inc.,announced Wednesday that it has filed a registration statementwith the Securities and Exchange Commission for a secondarypublic offering of 1.25 million units consisting of one share ofcommon stock and one five-year purchase warrant per share.
The price of the units and the exercise price of the warrantswill be determined at the time of the offering. H.J. Meyers & Co.Inc. of Beverly Hills, Calif., is underwriting the offering.
The Costa Mesa. Calif., company (ASE:VRA), which begantrading on the American Stock Exchange on Monday, will usethe proceeds in part to fund Phase III clinical trials of its anti-viral compound Virazole (ribavirin) for treating hepatitis C.Viratek's stock closed down $1 a share on Wednesday to $8.
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