Syntro Corp., which is developing genetically engineeredvaccines for the animal health market, on Monday said it hasfiled for a secondary offering of 3 million shares of commonstock.
Last month, Syntro (NASDAQ:SYNT), Hoechst-Roussel Agri-VetCo. and Hoechst Veterinar GmbH said they signed a letter ofintent to collaborate on the development of cattle and equinevaccines based on Syntro's viral vector technology.
The Hoechst companies will fund the multiyear developmentprogram, which is expected to cost about $6 million to $7million. The disease targets haven't been disclosed.
If the Lenexa, Kan., company completes the offering, it willhave 12.7 million shares outstanding. Underwriters Piper,Jaffray & Hopwood Inc. and George K. Baum & Co. have a450,000-share overallotment option. Syntro shares rose $1.63Monday to $7.25.
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