Biotech, Vertex, telaprevir
Vertex Raises $191 Million in Stock Offering
Luke Timmerman 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.
Luke Timmerman is the National Biotechnology Editor for Xconomy. You can e-mail him at ltimmerman@xconomy.com, call 206-624-2374, or follow him on Twitter at http://twitter.com/ldtimmerman.
