The Liposome Co. on Friday said it has filed for a secondary offeringof 3 million shares of common stock.
The proceeds will be used primarily to continue development andclinical testing of the company's self-funded products, including TLCG-65 and TLC C-53.
G-65 is a liposomal gentamicin to treat Mycobacterium aviumintracellulare, a common infection in AIDS patients. The companyhas completed a Phase II trial of G-65 and plans to conduct in 1992further Phase II trials in the United States and Phase III trials inEurope.
C-53 is a liposomal prostaglandin E1 being developed as a celladhesion antagonist to treat inflammatory and vaso-occlusivediseases, including adult respiratory distress syndrome,sepsis/trauma syndrome and acute myocardial infarction. Thecompany plans to file in mid-year to begin Phase I trials.
If the offering is completed, Liposome will have 22.7 million sharesoutstanding. Underwriter Hambrecht & Quist Inc. has a 450,000-share overallotment option. Shares of the Princeton, N.J., company(NASDAQ:LIPO) closed unchanged Friday at $17.25. -- KB
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