NEWTON, Mass.--(BUSINESS WIRE)--Clinical Data, Inc. (NASDAQ: CLDA), a global biotechnology company that develops and commercializes clinical diagnostics and targeted therapeutics to improve patient care and provides comprehensive molecular and pharmacogenomics services, announced today that it plans to publicly offer to sell, subject to market and other conditions, 3,000,000 shares of its common stock in an underwritten public offering. In connection with this offering, Clinical Data plans to grant to Bear, Stearns & Co. Inc., the sole underwriter, a 30-day option to purchase up to an additional 450,000 shares of common stock to cover over-allotments, if any. All of the shares are being offered by Clinical Data. Clinical Data’s largest stockholder and Chairman of the Board of Directors, Randal J. Kirk, through one or more of his affiliates, intends to purchase up to an aggregate of approximately $50 million of the common stock offered by the Company in this offering, depending ultimately upon the size of the offering. These purchases are intended to result in Mr. Kirk, through his affiliates, maintaining, at a minimum, his current 40% ownership position of Clinical Data following the offering.
