San Diego antibiotic developer Trius Therapeutics Inc. has announced a public offering of about $34.1 million.
The company trades under the TSRX symbol on the Nasdaq.
The company, whose value is about $192 million, said the proceeds will go toward research and development expenses, capital expenditures, working capital and general administrative expenses.
The company’s flagship drug, tedizolid phosphate, is being investigated for its efficacy against serious infections, including those called methicillin-resistant Staphylococcus aureus, or MRSA.
The deal will allow the underwriters to purchase an additional 869,135 shares of common stock. With the sale of this additional stock, Trius will have sold 7,169,135 shares at a price to the public of $4.75 apiece.
—SDBJ Staff Report