NEWTON, Mass.--(BUSINESS WIRE)--Clinical Data, Inc. (NASDAQ: CLDA) today announced that the underwriters of its public offering that closed on July 23, 2007 have exercised an over-allotment option to purchase an additional 450,000 shares of common stock from Clinical Data. After giving effect to the exercise of the over-allotment option, Clinical Data will issue 3,450,000 shares of common stock in the offering and expects to receive aggregate net proceeds of approximately $71.5 million after underwriting discounts and commissions. The company currently expects to use the net proceeds of this offering to fund clinical trial activities, preclinical research and development activities and for other general corporate purposes, including the acquisition of complementary businesses and technologies, capital expenditures and working capital. All of the shares are being offered by Clinical Data pursuant to an effective shelf registration statement previously filed with the Securities and Exchange Commission.
