Cambridge Biotech Corp. on Friday said it has filed for asecondary offering of 3 million shares of common stock. Sutro& Co. is underwriting the offering. Stock of the Worcester,Mass., company (NASDAQ:CBCX) closed Friday at $7.25, down 50cents.
Proceeds will be used to fund possible acquisitions and jointventures, and to expand U.S. and European operations.Cambridge Biotech is developing products to detect, preventand treat infectious diseases.
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