Advanced Tissue Sciences Inc. said Tuesday it has filed for a 2million-share offering of common stock.
The La Jolla, Calif., company (NASDAQ:ATISA), which recentlychanged its name from Marrow-Tech Inc., said the proceedswould be used to accelerate development of its skin-relatedproducts. The company is developing products for therapeuticand laboratory applications that involve growth of humantissue outside of the body.
In November, the Food and Drug Administration approvedexpansion of ATS' clinical trials of Dermagraft, a living dermalreplacement for use in burn treatment, to 24 burn centers.
Dermagraft also is in trials of chronic venous skin ulcers andATS hopes to begin in January a trial in patients with decubitusulcers.
The company will have 22 million shares outstanding after theoffering is completed. Underwriters Smith Barney, HarrisUpham & Co. and Montgomery Securities have a 300,000-shareoverallotment option.
The stock closed Tuesday at $14.13, up 38 cents.
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