Transkaryotic Therapies has completed an offering of 2.8 million sharesof common stock, priced at $39.00 each, and noted that the underwriters have an option to purchase up to 420,000 additional shares to cover overallotments.
The company said it intends to use the net proceeds from the sale for general corporate purposes, including expanding its manufacturing capabilities and clinical trials. TKT added that the funds will be used to build0 its sales and marketing forces to support its Niche Protein products.
The joint bookrunning managers for the offering were SG Cowen Securities Corp and Deutsche Banc Alex Brown. Co-managers were Pacific Growth Equities and Leerink Swann & Co.
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