IMMUNEX ACTS FAST ON STOCK OFFERINGThe day after the company received Food and DrugAdministration approval to market its Leukine granulocytemacrophage colony stimulating factor (GM-CSF), Immunex Corp.of Seattle on Wednesday filed for a public offering of 2 millionshares of common stock. Underwriters First Boston Corp.,Invemed Associates Inc. and Hambrecht & Quist Inc. haveoptions to purchase 300,000 additional shares through anoverallotment. Immunex common stock (NASDAQ:IMNX) closedWednesday at $52.75, up 25 cents.
CHIRON OFFERING RAISES $115 MILLION
Chiron Corp. of Emeryville, Calif., said Wednesday it completeda public offering of 2 million shares of common stock at $57.50per share, raising $115 million, less underwriting fees. Chironwill sell an additional 122,000 to 140,000 shares to Ciba-GeigyLtd. of Basel, Switzerland, to maintain Ciba's 6 percent equitystake in Chiron. The underwriters have an option to purchasean additional 300,000 shares through an overallotment.Chiron's common stock (NASDAQ:CHIR) closed Wednesday up$2.50 at $61.75.
QUIDEL STARTS TRADING ON NASDAQ
Common stock of Quidel Corp. of San Diego on Wednesdaybegan trading on the NASDAQ National Market System underthe name QDEL. Quidel in January completed a merger withMonoclonal Antibodies Inc. of Sunnyvale, Calif., and closed $11million of financing. Merger costs of approximately $5 millionare expected to be charged to operations in Quidel's fourthquarter ending March 31, resulting in a significant loss for thequarter and the fiscal year. Quidel common stock closedWednesday at $5.63.
FDA REQUESTS ANOTHER STUDY OF PENTYDE SPRAY
Immunetech Pharmaceuticals of San Diego on Wednesdayreceived a letter from the Food and Drug Administrationrequesting another study of the efficacy of its Pentyde NasalSpray to treat asthma. Immunetech said it is disputing therequest and has requested a meeting with the FDA.
The company applied for marketing approval of Pentyde inJuly 1988. Pentyde Nasal Spray and Pentyde Ophthalmic arethe company's only in-house products. The FDA is reviewingPentyde Ophthalmic.
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