Dyax underwriters sell 2.6M more shares, boosting proceeds from offering to $59.6M

Dyax adds 2.6M shares to recent offering

CAMBRIDGE, Mass. — Drug developer Dyax Corp. said Monday that the underwriters of a recent stock sale have bought all the additional shares the company set aside in case the offering drew more interest from investors than initially expected.

Dyax said Jefferies & Co. purchased an additional 2.55 million shares at $3.25 per share. That brings the total net proceeds from the offering, priced March 25, to about $59.6 million.

Dyax had said it planned to use the money for the production and sale of its drug candidate Kalbitor, aimed at treating hereditary angioedema. Hereditary angioedema causes fluid to build up outside the blood vessels, and it can lead to dangerous swelling in the extremities, the intestinal tract, or airways.

The company said it would also use proceeds from the stock offering to pay for other research and development and for general corporate purposes.

Shares of Dyax fell 3 cents to $3.53 in after-hours trading Monday. Earlier, the stock added 10 cents, or 2.9 percent, to close at $3.50.