Genitope greenshoe exercised, raising follow-on sale to $62.56 million

By Lisa Kerner

Erie, Pa., Feb. 17 - Genitope Corp. said the underwriters of its follow-on stock offering exercised the 960,000 share over-allotment option in full, raising the size of the deal to 7.360 million shares or $62.56 million.

Genitope previously priced 6.4 million shares after the close on Feb. 7 at $8.50 per share for proceeds of $54.4 million.

WR Hambrecht+Co was bookrunner and RBC Capital Markets was lead manager.

Net proceeds to Genitope are $58.4 million.

Genitope is a Redwood City, Calif.-based biotechnology company focused on the research and development of novel immunotherapies for the treatment of cancer.

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