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THERATECH ANNOUNCES INITIAL PUBLIC OFFERING OF COMMON STOCK

 THERATECH ANNOUNCES INITIAL PUBLIC OFFERING OF COMMON STOCK
 SALT LAKE CITY, May 13 /PRNewswire/ -- TheraTech, Inc. (NASDAQ-NMS: THRT) announced today its initial public offering of 1,250,000 shares of common stock at a price of $7.50 per share. All shares were sold by the company.
 William Blair & Company and Vector Securities International, Inc. co-managed the underwriting group. Prior to this offering there has been no public market for the company's common stock.
 Dr. Dinesh C. Patel, president of TheraTech, said the company intends to use the proceeds of the new financing to fund research and development activities, construct manufacturing facilities, and for working capital and general corporate purposes.
 Founded in 1985, TheraTech, Inc. is a leader in creating innovative products based on controlled release drug delivery technologies. These include transdermal patches and novel oral polymeric delivery products that are designed to control the rate of drug absorption, to improve the efficacy and safety of the medications, and also to improve patient convenience and compliance.
 -0- 5/13/92
 /CONTACT: Steven C. Mayer or Myrna Duncan of TheraTech, 801-583-6028, or Linda Etzel of Shirley Thompson of Carl Thompson Associates, 801-533-0303, for TheraTech/
 (THRT) CO: TheraTech, Inc. ST: Utah IN: MTC SU: OFR


AH-OS -- NY064 -- 9729 05/13/92 13:15 EDT
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Publication:PR Newswire
Date:May 13, 1992
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