Nova Pharmaceutical Corp. has filed for a public offering of 3.4million shares of common stock, of which 3 million newlyissued shares will be offered by the company and 400,000shares will be offered by stockholders. If the offering iscompleted, Nova will have 30.9 million shares outstanding.
The selling stockholders are SKB Properties, an affiliate ofSmithKline Beecham plc, and Marion Merrell Dow Inc.
Baltimore-based Nova is developing drug delivery systems anddrugs to treat inflammation and central nervous systemdisorders.
Underwriter Tucker Anthony Inc. has an option to purchase510,000 shares to cover overallotments.
Nova shares (NASDAQ:NOVX) closed at $6.25, down 25 cents.
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