New Haven drug developer Achillion Pharmaceuticals Inc. said it grossed $24.6 million from its public offering that included the sale of an extra 1.5 million shares.
Achillion said net proceeds before offering expenses of $22.9 million will be plowed into ongoing development of its portfolio of treatments for infectious blood-borne diseases, including hepatitis C and HIV.
The company originally offered to sell 10.3 million shares of common stock but demand quickly prompted it to put up another 1.5 million shares.
On Tuesday, Achillion announced a license for one of its treatments currently in clinical trials to a New Jersey pharmaceutical firm that will co-develop the drug and market it to China, Hong Kong and Taiwan.
