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Orchid Pockets Additional $2.5M in Over-Allotment

NEW YORK, March 6 - Orchid BioSciences on Wednesday said it earned approximately $2.5 million after money-management firm Robertson Stephens exercised its over-allotment option to purchase an additional 1 million shares of the company.

The offering brought to 9 million the total number of shares and $22.5 million the total gross proceeds that Orchid pocketed from its recent offering, which Robertson Stephens underwrote.

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