Vertex Pharmaceuticals Inc. said Tuesday it has filed for a 2million-share public stock offering. Of the shares to be offered,1.6 million will be sold in the United States and the remaining400,000 will be offered abroad.
In July, Vertex raised $27 million in a 3 million-share initialpublic offering priced at $9. The company had proposed a $13-to-$15 price range, but reduced the price due to marketconditions. Vertex stock (NASDAQ:VRTX) closed at $14.50, down63 cents.
Prior to the offering, the Cambridge, Mass.-based rational drugdesign company has 9.8 million shares outstanding.Underwriters for the U.S. offering, Kidder, Peabody & Co. Inc.and Cowen & Co., have a 300,000-share overallotment option.Kidder, Peabody International Ltd. and Cowen are internationalunderwriters.
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