Abiomed, the Danvers, MA-based maker of devices to treat heart failure, said today it is offering 2.4 million shares of common stock. Morgan Stanley is the sole underwriter for the offering, which is being made through a shelf registration statement that became effective in Oct. 2006. Abiomed (NASDAQ: [[ticker:ABMD]]) has 33.7 million shares outstanding. The stock fell 3.7 percent to $18.20 at 12:18 pm Eastern time on the news of the increasing supply of shares.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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