Vertex Raises $191 Million in Stock Offering

9/18/08

Vertex Pharmaceuticals, the Cambridge, MA-based developer of telaprevir for hepatitis C, raised $191.3 million from the sale of 7.5 million shares at $25.50 apiece, the company said. Goldman Sachs & Co. is serving as the sole book runner for the offering, and it has an option to buy another 1.1 million shares at the same terms. Vertex said it had $832 million in cash and investments on hand at the end of June, when it last reported quarterly finances.

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