Chiron Corp. announced Thursday that it has filed with theSecurities and Exchange Commission to offer 1.65 millionshares of common stock.
The company (NASDAQ:CHIR), based in Emeryville, Calif., said itwill use the proceeds for further development andcommercialization of its products. This will include funding ofits program to develop vaccines for adult infectious diseasessuch as hepatitis C, AIDS, malaria, influenza and herpes. Theproceeds will also help fund two Chiron subsidiaries: ChironOphthalmics Inc. and Protos Corp. Chiron currently has 16.3million outstanding shares.
Underwriters Morgan Stanley & Co. and Robertson, Stephens &Co. of San Francisco have an option to purchase up to 248,000more shares through an overallotment.
Chiron stock closed at $53.50 a share on Thursday.
This is the company's fifth public offering since 1983.
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