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SOMATIX RAISES ADDITIONAL $5.2 MILLION: OVERALLOTMENT OPTION EXERCISED

 SOMATIX RAISES ADDITIONAL $5.2 MILLION:
 OVERALLOTMENT OPTION EXERCISED
 ALAMEDA, Calif., March 26 /PRNewswire/ -- Somatix Therapy Corp. (NASDAQ: SOMA) today announced that the underwriter's option to purchase an additional 450,000 shares of common stock has been exercised. This option was granted in connection with the Feb. 20, 1992, public equity offering in which 3 million shares of common stock, priced at $11.50 per share, were sold by the company. The exercise of the overallotment raises an incremental $5.2 million, bringing the total amount raised in the equity offering to $39.7 million before commissions and expenses. The proceeds from the offering will be used to pursue product programs in gene therapy. With the exercise of this option, Somatix has 13.1 million shares of common stock outstanding. The offering was underwritten by a syndicate led by Robertson, Stephens & Co.; Oppenheimer & Co.Inc; and Vector Securities International Inc.
 Somatix Therapy Corp. is a leader in the development of gene therapy, a novel approach to the treatment of disease in which genes are inserted into a patient's cells to induce these cells to produce therapeutic proteins. Somatix is applying its gene therapy expertise to the research and development of new treatments for cancer, central nervous system diseases and hemophilia.
 -0- 3/26/92
 /CONTACT: Julie Wood of Somatix Therapy Corp., 510-748-3082/
 (SOMA) CO: Somatix Therapy Corp. ST: California IN: MTC SU:


RM -- SF002 -- 2002 03/26/92 13:04 EST
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Publication:PR Newswire
Date:Mar 26, 1992
Words:241
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