Oncogene Science Inc., a developer of cancer diagnostics andtherapeutics, said on Wednesday that it has filed for asecondary offering of 3.2 million shares of common stock.Oncogene now has 9.2 million shares outstanding.
The company will also issue stock to pay for its acquisitionlast May of Applied bioTechnology Inc. of Cambridge, Mass.,which also develops cancer diagnostics. Oncogene expects toissue an additional 2.2 million shares of stock to Applied bio,but that figure could go as high as 3.66 million, depending onthe price of Oncogene stock when the deal closes. Oncogene(NASDAQ:ONCS) closed unchanged at $4.88 on Wednesday.
Underwriter Wertheim Schroder & Co. has an option to buy anadditional 480,000 shares to cover overallotments.
Oncogene has one Food and Drug Administration-approveddiagnostic kit, TransProbe-1, on the market to confirmdiagnoses of chronic myeloid leukemia. The company sellsother kits for the research market. Oncogene has no products inclinical trials.
Oncogene also announced that effective Aug. 26 it is relocatingfrom Manhasset, N.Y., to Uniondale, N.Y.
(c) 1997 American Health Consultants. All rights reserved.