Alkermes Inc. said Thursday that it has filed for a secondaryoffering of 2 million shares of common stock, making it thethird company this year to file a secondary offering onlymonths after its initial public offering.
Alkermes stock (NASDAQ:ALKS) closed down 50 cents at$16.25 on Thursday.
Alkermes in July netted $18 million on an IPO of 2 millionshares, including an overallotment, priced at $10. TheCambridge, Mass., company, which is developing products todeliver compounds across the blood-brain barrier, had hoped toraise $22 million to $26 million on its IPO.
Cor Therapeutics Inc. and Glycomed Inc. this month eachannounced offerings of 2 million shares. All three companieswent public during a soft market period earlier this year.
Before this latest offering, Alkermes had 7.6 million sharesoutstanding. Underwriters Robertson, Stephens & Co. and J.P.Morgan Securities Inc. have an option to purchase an 300,000more shares to cover overallotments. -- KB
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