Isis Pharmaceuticals Inc. on Tuesday said it has filed for aninitial public offering of 3 million shares of common stockpriced between $13 and $15 a share.
Proceeds will be used for research and development, facilitiesexpansion and general corporate purposes.
Within the next 12 months, Isis plans to file investigationalnew drug applications with the Food and Drug Administrationfor Phase I clinical trials of Isis 1082, an anti-herpescompound, and Isis 2105, a compound to treat genital warts.
Isis, based in Carlsbad, Calif., has raised $20 million in threerounds of private financing since it was founded in January1989, said Yasunori Kaneko, senior vice president for financeand administration.
If the offering is completed, Isis will have about 11 millionshares of common stock outstanding.
Underwriters for the offering are Morgan Stanley & Co. Inc. andLehman Brothers, both of New York. -- Karen Bernstein
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