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VIRATEK MAKES PUBLIC OFFERING

 COSTA MESA, Calif., Feb. 1 /PRNewswire/ -- Viratek Inc. (AMEX: VRA) has made a public offering of 1,375,000 units at $7.75 per unit. The units consist of one share of Viratek common stock and one common stock purchase warrant and are traded on the American Stock Exchange (AMEX: VRAE).
 Net proceeds estimated at $9,068,750 million from the offering will be used to complete phase III clinical trials and related project costs to evaluate the company's antiviral compound Virazole in the treatment of hepatitis C; to fund continued development of certain other anti-cancer and immune-stimulatory compounds; and for general working capital purposes.
 Viratek is principally engaged in the development and licensing of therapeutic pharmaceutical compounds derived from nucleic acids, including Virazole, as well as new biomedical products. The common stock of Viratek is also traded on the AMEX under the symbol VRA.
 The units were offered through an underwriting group managed by H.J. Meyers & Co. Inc. of Beverly Hills, Calif., and the closing of the offering is scheduled for Feb. 4, 1993. The underwriters have been granted a 45-day option to purchase up to 206,250 additional units to cover over-allotments.
 This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.
 -0- 2/1/93
 /CONTACT: Jack Sholl of Viratek, 714-556-0131, ext. 3013/
 (VRA VRAE)


CO: Viratek Inc. ST: California IN: MTC SU: OFR

JB-LS -- LA011 -- 1134 02/01/93 08:02 EST
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Publication:PR Newswire
Date:Feb 1, 1993
Words:275
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