ARIAD Pharma raises $14.5 million

US firm ARIAD Pharmaceuticals says it has completed its previously announced-underwritten offering of 3,112,945 shares of its common stock. The shares were sold to Credit Suisse Securities (USA), the sole underwriter, at a price of $4.65 each, providing proceeds to the company of $14.5 million, or $14.3 million after deducting expenses.

Credit Suisse has an option, which expires November 18, to purchase up to an additional 466,942 shares. Following this offering, the company has used all of the shares available for issuance under its effective shelf registration statements.