Medicis Pharmaceutical Corp. said it would redeem on Feb. 10its 10.2 million outstanding Class A warrants for 5 cents perwarrant. The warrants, which would have expired in March1995, may be exercised for $1.50 prior to redemption inexchange for one share of common stock (NASDAQ:MDRXA) andone Class B warrant. The B warrant is exercisable by March 28,1995, for $2.75 in exchange for one share of common.
Stock of the New York company, which is developingdermatological products, closed Friday at $2.50, up 18 cents.
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