Aurora Biosciences (ABSC) Message Board

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Biotech / Medical : Aurora Biosciences (ABSC)

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To: jay silberman who wrote ()	2/7/2000 11:08:00 AM
From: sim1	of 359

Aurora to sell 1.8 mln shares in private placement SAN DIEGO, Feb 7 (Reuters) - Aurora Biosciences Corp. (NASDAQ: ABSC) said on Monday it would sell 1.8 million common shares for about $75 million, or $42 a share, in a private placement with selected institutional and other investors. The company said it would use the proceeds for development and acquisition of new technologies, particularly in genomics, the study of the structure and function of a gene, and drug discovery. The proceeds would also be used for commercial development, working capital and other general corporate purposes, the company said. Aurora's shares closed at 48-1/4 on Friday, near its 52-week high of 51. The shares had been as low as 10-1/2 in mid-December.

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