AMAG Pharmaceuticals is offering 3 million shares
January 20, 2010 08:55 AM
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LEXINGTON -- AMAG Pharmaceuticals Inc. said it is publicly offering 3 million shares of common stock.
The biotechnology company is also granting underwriters an overallotment option for 450,000 shares. Morgan Stanley & Co., J.P. Morgan Securities Inc., and Goldman Sachs & Co. are underwriting the offering. The company has not priced the offering.
In a regulatory filing, AMAG Pharmaceuticals said it plans to use proceeds for general corporate purposes including research and development.
AMAG has about 17.1 million common shares outstanding. Shares of AMAG closed at $49.99 yesterday. The stock has traded in a 52-week range of $22.20 to $58.23.
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