ImmuLogic Pharmaceutical Co. on Friday said it has filed for apublic offering of 2 million shares of common stock.
ImmuLogic shares (NASDAQ:IMUL) closed down 75 cents onFriday at $18.50. The company sold 2 million shares of commonstock at $10 a share in a May initial public offering. Thecompany had hoped to sell 3 million shares priced between $14and $16.
In November, the company signed a deal that could be worthmore than $60 million with Marion Merrell Dow Inc. to jointlydevelop ImmuLogic's allergy therapeutics (see BioWorld, Nov.21).
If the offering is completed, ImmuLogic will have 11.9 millionshares outstanding. Underwriters Morgan Stanley & Co. Inc.and Hambrecht & Quist Inc. have a 300,000-shareoverallotment option.
The proceeds will be used to fund research, development andclinical programs, and to relocate the Cambridge, Mass.,company's facilities to Waltham, Mass., by the end of 1992.
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