Anacor Pharmaceuticals, Inc. Announces Proposed Public Offering of Common Stock
10/18/2012 9:48:25 AM
PALO ALTO, Calif.--(BUSINESS WIRE)--Anacor Pharmaceuticals (NASDAQ:ANAC) today announced its intention to offer, subject to market and other conditions, shares of its common stock in an underwritten public offering. Anacor also expects to grant the underwriter a 30-day option to purchase up to 15 percent of the shares of common stock offered in the public offering to cover over-allotments. Anacor expects to use the net proceeds from the sale of the shares for research and development activities, working capital and general corporate purposes. All of the shares in the offering will be sold by Anacor.