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Genome Therapeutics Completes Merger, Raises $88.2M in Stock Offering

Feb 09, 2004

NEW YORK, Feb. 9 (GenomeWeb News) - Genome Therapeutics has completed its merger with Genesoft Pharmaceuticals and its common stock offering, the company said on Friday.

 

The common stock offering raised gross proceeds of approximately $88.2 million, the Waltham, Mass.-based company said. Genome Therapeutics sold $16.8 million shares at $5.25 per share.

 

As a result of the merger and the financing, Genome Therapeutics has about $110 million in cash and cash equivalents.

 

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