Idec Pharmaceuticals To Offer Common Stock

- Idec Pharmaceuticals is making a public offering of common stock of 1.8 million primary shares at a price of $24 per share. The firm anticipates that net proceeds will be used primarily to finance the establishment of a marketing and sales infrastructure, to fund detailed engineering studies for expansion of its drug manufacturing capacity, to secure additional office, laboratory and warehouse facilities, to provide working capital for the launch of its lead product, IDEC-C2B8, if approved, and for general corporate purposes.