CAMBRIDGE, Mass--Genzyme Molecular Oncology, the Genzyme division that develops gene-based approaches to cancer therapy and diagnosis, announced April 28 that it had filed a registration statement with the US Securities and Exchange Commission for an initial public offering of 3 million shares of common stock. The company also granted underwriters a 30-day option to buy up to 450,000 additional shares to cover over-allotments.
The company stated that it anticipated the initial public offering stock price to be between $9 and $11 per share. Genzyme Molecular employs an integrated approach to translating information gained through its genomics capabilities into gene therapy, small molecule therapeutics, and genetic diagnostics.