MedImmune seeks OK for new stock offering

MARYLAND WATCH

January 04, 1996

Gaithersburg-based MedImmune Inc. sought regulatory approval yesterday to issue another 2 million shares of common stock.

Mark E. Kaufmann, manager of strategic planning and investor relations for the publicly held biotechnology company, said the offering price of the new shares has not been set.

If approved by the Securities and Exchange Commission, the stock offering would bring the number of outstanding shares to more than 18.7 million.

MedImmune, which is developing and marketing products for the prevention and treatment of infectious diseases and for use in organ transplants, also announced yesterday that it has struck a new agreement with Connaught Laboratories Inc., a vaccine producer, for Connaught to fill and package CytoGam until 1999. The drug, developed by MedImmune, aids kidney transplant patients.

Under the agreement, MedImmune would pay Connaught $2.7 million after Connaught modifies its packaging facility.

MedImmune said it would charge the $2.7 million as an expense in the 1995 fourth quarter, which ended Sunday.

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