CAMBRIDGE, Mass.--(BUSINESS WIRE)--March 9, 2006--Dyax Corp. (Nasdaq: DYAX) today announced that it has agreed to sell 5,500,000 shares of its common stock at a price of $5.65 per share to the public in an underwritten public offering pursuant to an effective shelf registration statement. Dyax expects the net proceeds from the sale of the shares to be approximately $30,000,000 million, after underwriting discounts and estimated offering expenses. In addition, Dyax has granted the underwriter a 30-day option to purchase up to an additional 825,000 shares of common stock. Deutsche Bank Securities Inc. is the sole underwriter for the offering. The offering is expected to close on or about March 14, 2006.
