Agouron Pharmaceuticals Inc. said Friday that it has filed for apublic offering of 2 million shares of common stock. Of thoseshares, 1.94 million are being offering by the company and60,000 shares are being offered by a shareholder. If theoffering is successfully completed, Agouron will have 6.7million shares outstanding.
Agouron stock (NASDAQ:AGPH) closed up $1.75 at $20.75.
La Jolla, Calif.-based Agouron on Thursday filed its firstinvestigational new drug application to begin a pilot clinicalstudy of AG-85, a topical agent to treat psoriasis. AG-85 is arationally designed inhibitor of thymidylate synthase. TS is abuilding block of DNA that is responsible for the rapidproliferation of cells.
Underwriters PaineWebber Inc., Smith Barney, Harris Upham &Co. Inc. and Hambrecht & Quist Inc. will have an option topurchase an additional 300,000 shares to coveroverallotments.
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