Onyx Pharmaceuticals Inc. (ONXX: Quote) Tuesday announced an underwritten public offering of 4.4 million shares of its common stock.
Onyx also said it has granted the underwriters a 30-day option to purchase up to an additional 660,000 shares of common stock offered to cover overallotments, if any.
The offering is expected to close on or about January 22, 2013, subject to customary conditions.
Onyx said it plans to use the net proceeds from the offering to fund its clinical development programs, research and development activities, and sales activities to commercialize Kyprolis, and for general corporate purposes as well.
BofA Merrill Lynch and Barclays are acting as joint book-running managers for the offering.
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by RTT Staff Writer
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