Human Genome Sciences
priced a public offering of 11 million common shares at $75 each, which generated gross proceeds of $825 million.
The company plans to use the net proceeds to initiate and expand laboratory and human studies and to accelerate ongoing research and development efforts.
The stock offering, which was led by
Credit Suisse First Boston
, gives the underwriters an option to purchase an additional 1.65 million shares to cover any over-allotments.
Shares of Human Genome were recently up 4% to $85 in