Sirna Therapeutics greenshoe exercised, raising stock sale to $52 million

By Lisa Kerner

Erie, Pa., May 30 - Sirna Therapeutics, Inc. said the underwriters of its common stock offering have exercised in full the over-allotment option to purchase 1.35 million shares of common stock, raising the size of the deal to 10.35 million shares, or $51.75 million.

Total estimated net proceeds to the company are about $47 million.

Sirna originally priced 9 million shares at $5 each after the close on May 23 in a deal upsized from the original 8 million. A parallel secondary offering for 2 million shares by Bioscience Partners, The Sprout Group and Venrock Associates was withdrawn.

Joint bookrunners were UBS Investment Bank and J.P. Morgan Securities Inc.

San Francisco-based Sirna Therapeutics is a clinical-stage biotechnology company developing RNAi-based therapies for age-related macular degeneration, hepatitis B and C, dermatology, asthma, Huntington's disease, diabetes and respiratory syncytial virus.

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