Isis Pharmaceuticals Inc. (ISIS) announced the pricing of underwritten public offering of 9 million common shares at $19.00 per share. The offering is expected to close on or about May 14, 2013.
In addition, Isis has granted underwriters a 30-day option to buy up to 1.35 million additional shares of its common stock at the public offering price.
The company expects gross proceeds to be $171.0 million, before deducting expenses.
Isis anticipates to use offering net proceeds to increase its drug development activities and for general corporate and working capital purposes.
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