Celgene Corp. has filed for a 2 million-share public offering ofcommon stock, finally returning to the market after shelvingplans in May for a 1.75-million share offering.
The stock (NASDAQ:CELG) closed up $1.38 at $18.88 on Monday.
The company, which is using proprietary biocatalysis methodsto develop biotreatment systems and fine chemicals, cited thecrowded offerings market in dropping the earlier offering. Inaddition, the company's shares had fallen more than 12 percentsince closing at $11.88 on April 8, when the company first filed.
If the offering is completed, the Warren, N.J., company willhave 7.4 million shares outstanding. Underwriters Hambrecht& Quist Inc. and J.P. Morgan Securities Inc. have anoverallotment option to buy an additional 300,000 shares.
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