PathoGenesis Prices 2.1 Mill Shares

- US company PathoGenesis has announced the pricing of 2.1 millionshares of common stock at $27 per share. The firm expanded its follow-on offering from the two million shares of common stock. Proceeds from the offering are expected to be used for launch costs, including sales and marketing, of TOBI (tobramycin for inhalation) for cystic fibrosis, clinical testing, research and development, and general corporate purposes, including working capital and capital expenditures.

PathoGenesis recently announced the results of its Phase III clinical trials of TOBI for treating chronic pseudomonal lung infections in people with cystic fibrosis. TOBI is also being developed for treating chronic lung infections in bronchiectasis patients, as well as tuberculosis infections, along with two other products, PA-1648 and PA-824.