Scios files to sell $120 million of its stock

23 January 2001

Scios has made a filing with the US Securities and Exchange Commissionto periodically sell up to $120 million of its common stock. The firm says it plans to use any net proceeds to fund new product development and commercialization activities, including the launch of Natrecor (nesiritide). Scios recently submitted new data to the US Food and Drug Administration intended to back up its New Drug Application for Natrecor, which is under review for the treatment of acute heart failure (Marketletter January 15).

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