Celtrix Laboratories Inc. said last week that its underwriters,Robertson, Stephens & Co. and Oppenheimer & Co. Inc., haveexercised their option to purchase a 315,000 shareoverallotment at $8.75 per share. Celtrix sold 2.1 millionshares in July. The company, which is developing drugs basedon transforming growth factor beta, netted $19.9 million fromthe offering. Celtrix stock (NASDAQ:CTRX) closed at $8.50,down 50 cents, on Monday.
Celtrix has 4.8 million shares outstanding after the offering.
Part of the proceeds will be used to move the company to anew facility in Santa Clara, Calif., in the spring of 1992. Costsfor new construction and equipment will be $8 million to $10million. Celtrix now is headquartered in nearby Palo Alto.
(c) 1997 American Health Consultants. All rights reserved.