Cambridge Biotech Corp. has raised $25.6 million through asecondary public offering of 3.3 million shares of commonstock at $7.75 per share. The company's stock (NASDAQ:CBCX)closed unchanged on Thursday at $8.25.
The Worcester, Mass., company said Thursday that the offeringwas increased from an anticipated 3 million shares. After theoffering, the developer of products to detect, prevent and treatinfectious diseases will have 21.4 million shares outstanding.
Underwriter Sutro & Co. has a 495,000 share overallotmentoption.
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