Interneuron Pharmaceuticals Inc. said it would redeem its 3.24million outstanding Class A warrants for 5 cents each on Feb.14.
The warrants, which would have expired in March 1995, can beexercised prior to redemption for $2.20 in exchange for oneshare of common stock (NASDAQ:IPIC) and one Class B warrant.The B warrant entitles the holder to buy one share of commonfor $4.75 through March 7, 1995.
Interneuron is focused on treatments for neurologicalconditions and behavioral disorders.
On Wednesday, the Lexington, Mass., company said YamaichiFinance Co. Ltd. had exercised about 400,000 A warrants,bringing its share of equity to about 4.2 percent of sharesoutstanding, plus about 400,000 Class B warrants.
The stock closed at $10, down 13 cents, on Friday.
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