Deal Details
Follow-on Offering
Summary
Baird served as a co-manager in this offering
About
Pharmasset, Inc. (NASDAQ:VRUS) (“Pharmasset” or the “Company”) recently completed a 3,200,000 share follow-on offering of its common stock at $29.00 per share. Gross proceeds from the offering totaled approximately $92.8 million. The Company intends to use the net proceeds of this offering for general corporate purposes, including the funding of clinical trials, the funding of in-licensing agreements for product candidates, additional technologies or other forms of intellectual property and the acquisition of assets or businesses that are complementary to its existing business. The Company offered all of the 3,200,000 shares of common stock and has granted the underwriters an option to purchase an additional 480,000 shares to cover over-allotments.Pharmasset is a clinical-stage pharmaceutical company committed to discovering, developing, and commercializing novel drugs to treat viral infections. Its primary focus is on the development of nucleoside/tide analogs as oral therapeutics for the treatment of chronic hepatitis C virus (“HCV”) infection and secondarily, on the development of Racivir(TM) for the treatment of human immunodeficiency virus (“HIV”) infection.
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- Date
- May 2010
- Company
- Pharmasset, Inc.
- Transaction
- M&A
- Sectors
- Healthcare
- Target Geography
- North America
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