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Article: Telik Offering Gets $74.8M For Cancer Drug's Phase III.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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National Editor
Telik Inc. upped the size of its planned public offering and priced it, raising $74.75 million by selling 6.5 million shares at $11.50 per share, with an overallotment option for underwriters of 975,000 shares.
Proceeds, after underwriting discounts and commissions and offering expenses, will total $69.9 million ($80.4 million if the overallotment option is exercised), according to the company's prospectus related to the offering.
Carol DeGuzman, senior director of corporate communications, said the South San Francisco-based company is in a quiet period as required by the Securities and Exchange Commission, and could not comment. ...