SiliconBeat

Have good news, will sell stock. That might be the logic behind a secondary offering of new shares by InterMune, the Brisbane biotechnology company whose stock price soared 28 percent to earlier this month after it said it would apply for approval in the U.S. and Europe of what could be the first drug to treat the fatal lung disease, idiopathic pulmonary fibrosis.

InterMune received approval for the drug’s use in Japan in October.

The company said Friday that pricing was completed for the 3.5 million shares it was selling in an offering being underwritten by UBS. The last reported sale price of InterMune’s common stock the day before was $17.96. The shares closed down 48 cents to $17.48 Friday. At these prices, the company should raise gross proceeds of more than $60 million.