Vertex To Sell 7 Million Shares of Stock
Luke Timmerman9/17/08
Vertex Pharmaceuticals, the developer of telaprevir for hepatitis C, said today it is planning to sell 7 million new shares of stock. Goldman, Sachs & Co. is serving as the sole book-runner for the offering. Cambridge, MA-based Vertex (NASDAQ: VRTX) closed at $26.57 yesterday, down 5.6 percent on the day. The company had $832 million in cash and investments on hand at the end of June.
Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.
