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.