Vertex Snags Extra $58M
Luke Timmerman12/4/09
Cambridge, MA-based Vertex Pharmaceuticals said today that the underwriters of this week’s $442.8 million stock offering have agreed to buy an extra 1.5 million shares of stock at $38.50. That means the company has pulled in another $57.8 million, bringing the grand total of this week’s financing to $500.5 million before commissions and expenses. Vertex (NASDAQ: VRTX) plans to use the money to finish development cycle, and commercialize its experimental drugs for hepatitis C and cystic fibrosis.
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.
