Applied Immune Sciences Inc. said Thursday that it raised $70million through a secondary offering of 2.5 million shares ofcommon stock at $28 per share. The offering was increasedfrom a proposed 2 million shares.
The stock (NASDAQ:AISX) closed down 38 cents Thursday at$28.13.
The company, which is developing technology to treat immunesystem disorders outside of the body, in May completed a 2.6million-share IPO at $12.
AISX expects to complete this quarter Phase I trials of itsCELLector technology for AIDS, in which a patient's T cells areactivated with lymphokines, multiplied, and reinfused into thebody. Trials for kidney cancer are expected to start in the firsthalf of the year.
After the offering, the Menlo Park, Calif., company has 9.7million shares outstanding. Underwriters MontgomerySecurities and Furman Selz Inc. have a 375,000-shareoverallotment option.
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