ARTICLE | Financial News

Idec, CuraGen, ImmunoGen sell follow-ons

November 16, 2000 8:00 AM UTC

IDPH, CRGN and IMGN raised a total of more than $800 million in their follow-on offerings. IDPH raised $472.7 million through the sale of 2.6 million shares at $181.81 in an internationally marketed deal underwritten by affiliates of Merrill Lynch; Salomon Smith Barney; and Banc of America Securities. IDPH bumped up the deal by 600,000 shares: on Nov. 3, the cancer and autoimmune antibody company filed to sell 2 million shares when its price was $213.75. The deal has a 390,000-share overallotment.

CRGN raised $196.8 million in a follow-on offering of 4.8 million shares at $41. The offering, which has a 720,000-share overallotment, was underwritten by Morgan Stanley Dean Witter; Lehman; Dain Rauscher Wessels; Bear, Stearns; Prudential Vector Healthcare; and Thomas Weisel Partners. The company is applying its functional genomics platform to develop protein, antibody and small molecule drugs. ...