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MAGAININ PHARMACEUTICALS ANNOUNCES PUBLIC OFFERING OF 3,500,000 SHARES

 PLYMOUTH MEETING, Pa., Jan. 28 /PRNewswire/ -- Magainin Pharmaceuticals Inc. (NASDAQ: MAGN) today announced the public offering of 3,500,000 shares of common stock at a price of $6 per share. All of the shares will be sold by the company.
 The offering is being managed by Hambrecht & Quist Incorporated, Smith Barney, Harris Upham & Co. Incorporated and S.G. Warburg Securities.
 The net proceeds from the offering will be used for clinical studies of MSI-78, other research and development activities, general corporate purposes and working capital.
 A copy of the prospectus relating to the offering may be obtained from Hambrecht & Quist Incorporated, One Bush St., San Francisco, CA 94104, or 230 Park Ave., 21st Floor, New York, NY 10169; Smith Barney, Harris Upham & Co. Incorporated, 1345 Avenue of the Americas, New York, NY 10105; or S.G. Warburg Securities, 787 Seventh Ave., New York, NY 10019.
 Magainin Pharmaceuticals Inc. is a biopharmaceutical company engaged in the research and development of anti-infectives and anti-cancer products based upon compounds isolated from the host defense systems of animals.
 -0- 1/28/93
 /CONTACT: Jay Moorin of Magainin Pharmaceuticals, 215-941-4020; or Fern Lazar of Dewe Rogerson, 212-688-6840, for Magainin Pharmaceuticals/
 (MAGN)


CO: Magainin Pharmaceuticals Inc. ST: Pennsylvania IN: MTC SU: OFR

GK-PS -- NY021 -- 0120 01/28/93 09:50 EST
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Publication:PR Newswire
Date:Jan 28, 1993
Words:216
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