Rigel Pharmaceuticals Inc (RIGL): AP Rigel to Offer 4 Million Shares Fri...

Reply Private New

Next 10 Prev Next

surf1944

Send PM Follow Ignore

Followers	466
Posts	26934
Boards Moderated	2
Alias Born	09/11/2006

surf1944

Re: None

Friday, 01/25/2008 10:12:04 AM

Friday, January 25, 2008 10:12:04 AM

AP
Rigel to Offer 4 Million Shares
Friday January 25, 10:08 am ET
Rigel Pharmaceuticals to Offer 4 Million Shares of Common Stock; Price Still Undetermined

SOUTH SAN FRANCISCO, Calif. (AP) -- Clinical-stage drug developer Rigel Pharmaceuticals Inc. said late Thursday it will offer 4 million shares of common stock.

Also, in a Securities and Exchange Commission filing, the company said it closed 2007 with about $108.3 million in cash, cash equivalents and available-for-sale securities. Rigel ended 2006 with cash, cash equivalents and available-for-sale securities of $104.5 million.

The stock offering has not been priced. Rigel said underwriters will have the option to buy 600,000 additional shares. Credit Suisse Securities LLC will be the sole book-runner for the offering.

As of Sept. 30, the company had just over 31 million shares of stock outstanding.

Shares of Rigel fell 44 cents to $25.45 in morning trading. The stock has traded between $6.64 and $31 over the past 52 weeks.

surf's up......crikey